SunTrust analyst Sandy Draper raised his price target on on PRA Health to $120 and kept his Buy rating after its Q4 earnings beat and better than expected outlook for Q1. The analyst cites the company's positive "leading indicators", including upward and strong trend in RFPs and a 20% increase in its backlog with a "peer-leading backlog burn and low cancellation rates". Draper expects PRA Health to "continue to grow top- and bottom-line above industry average as it builds scale closer to the level of more mature peers" and also sees shares as undervalued relative to the historical multiples of its peer group.