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Fly News Breaks for July 18, 2016
PRXL
Jul 18, 2016 | 08:48 EDT
William Blair analyst John Kreger downgraded PAREXEL to Market Perform citing concerns over the "surprising" CFO change. The timing of Ingo Bank's departure is unusual, "falling after the fiscal year's close but before the earnings release and presumably in the midst of the audit," Kreger tells investors in a research note. The analyst currently sees better upside and less uncertainty in some of the other names in the group.
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