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Fly News Breaks for January 6, 2016
PRXL
Jan 6, 2016 | 06:58 EDT
Evercore ISI analyst Ross Muken upgraded PAREXEL to Buy with a $77.50 price target and said it is now one of his Top Picks amongst smid-cap coverage. Muken expects a material inflection in earnings with the recently implemented Margin Acceleration Program driving a a multi-year expansion in operating margins of nearly 400bps and continued tax planning, and greater than 20% earnings growth. The analyst sees strong share performance ahead independent of looming industry consolidation.
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