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Fly News Breaks for February 3, 2017
PRXL
Feb 3, 2017 | 05:49 EDT
Deutsche Bank analyst George Hill downgraded PAREXEL to Sell citing valuation and poor visibility following the company's Q2 results. The analyst notes that his revised estimates imply 16% downside to the shares. He sees a lack of revenue visibility driven by elongated revenue recognition times and the company's "bloated" cost structure. Hill cut his price target for PAREXEL shares to $53 from $66. Citi this morning also downgraded the shares.
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