KeyBanc analyst Donald Hooker last night upgraded PRA Health Sciences to Overweight from Sector Weight with a $118 price target. The stock is trading at a "sizable discount" to peers and represents an attractive way for investors to play the trend of biopharma firms outsourcing their R&D activities, Hooker tells investors in a research note. After speaking to management, he believes PRA should be able to generate revenue growth of 8% and EBITDA growth of 12% in 2020, even in the face of some integration headwinds at Symphony Health and negative mix shift at the company's functional service provider business.