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Fly News Breaks for May 16, 2017
PRXL
May 16, 2017 | 05:56 EDT
Barclays analyst Jack Meehan raised his price target for Parexel to $87 after the Wall Street Journal on May 8 reported the company is exploring a sale and Starboard Value on May 11 disclosed a 5.7% stake. The analyst believes Parexel's investment thesis has merits on a standalone basis and notes his new price target reflects a push for better operational improvement. With the potential for strategic alternatives to drive further upside, Meehan raised his upside case for the shares to $100. He keeps an Overweight rating on Parexel.
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