Credit Suisse said Quintiles shares have been pressured since the Q1 report due to sector concerns around backlog conversion and the divergence in revenue and bookings trends, combined with a 11.9M share secondary last week. The firm is encouraged by potential revenue growth acceleration, margin improvement, Quest joint-venture synergies, recent refinancing and buybacks, and continues to believe investors under-appreciate the potential for incremental accretive capital deployment. Credit Suisse views valuation as attractive ahead of 2016 operational improvements and reiterates its Outperform rating and raises its price target to $77 from $75.