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PRXL

Parexel

$83.92

0.42 (0.50%)

, LH

LabCorp

$141.89

1.12 (0.80%)

06:32
06/20/17
06/20
06:32
06/20/17
06:32

Pamploma Capital close to dela to buy Parexel for $4.6B, WSJ reports

Pamplona Capital Management is close to a deal to buy Parexel International (PRXL) for $88.10 per share in cash, or about $4.6B, The Wall Street Journal reports, citing people familiar with the matter. According to the report, Pamplona beat out Parexel rivals including LabCorp (LH) and Icon (ICLR), with a higher offer. Reference Link

PRXL

Parexel

$83.92

0.42 (0.50%)

LH

LabCorp

$141.89

1.12 (0.80%)

ICLR

ICON plc

$94.91

1.92 (2.06%)

  • 26

    Jun

PRXL Parexel
$83.92

0.42 (0.50%)

05/23/17
05/23/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McKesson (MCK) upgraded to Overweight from Neutral at JPMorgan with analyst Lisa Gill saying she believes additional value should be unlocked from the Change transaction and that the valuation discount versus peers is unwarranted. 2. Aegion (AEGN) upgraded to Buy from Hold at Craig-Hallum with analyst Eric Stine saying the recent pullback provides an attractive opportunity to own a "high-quality company" with positive trends across much of its business. 3. Wingstop (WING) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Karen Holthouse saying there is upside to her $36 price target. Holthouse believes Wingstop is well positioned for digital ordering and off-premise tailwinds and expects an acceleration in same-store-sales driven by national advertising momentum. 4. Parexel (PRXL) upgraded to Neutral from Sell at Goldman Sachs with analyst Robert Jones citing reduced consensus expectations and industry consolidation. 5. On Deck Capital (ONDK) upgraded to Outperform from Market Perform at FBR Capital with analyst Bob Ramsey saying he believes the company's path to profitability creates "significant" upside for the shares over the next 12 months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/23/17
GSCO
05/23/17
UPGRADE
Target $77
GSCO
Neutral
Parexel upgraded to Neutral from Sell at Goldman Sachs
Goldman analyst Robert Jones upgraded Parexel to Neutral and raised its price target to $77 from $63 to reflect reduced consensus expectations and industry consolidation. The analyst said two large-scale Clinical transactions announced over the past month reinforce his view of consolidation in the CRO space and reduced downside risk for Parexel.
05/16/17
LEHM
05/16/17
NO CHANGE
Target $87
LEHM
Overweight
Parexel price target raised to $87 from $74 at Barclays
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.
05/15/17
EVER
05/15/17
UPGRADE
EVER
Outperform
Parexel upgraded to Outperform from In Line at Evercore ISI
LH LabCorp
$141.89

1.12 (0.80%)

02/06/17
BARD
02/06/17
DOWNGRADE
Target $138
BARD
Neutral
LabCorp downgraded to Neutral at Baird
As previously reported, Baird analyst Whit Mayo downgraded LabCorp to Neutral from Outperform as he is less convinced the company can grow earnings double digits in 2017, the current valuation is above historical averages, and he does not see an M&A deal that would meaningfully alter the risk/reward. Mayo has a $138 price target on LabCorp shares.
05/09/17
JEFF
05/09/17
NO CHANGE
Target $66
JEFF
Hold
Parexel sale best way to fix company, says Jefferies
Jefferies analyst David Windley believes a sale of Parexel (PRXL), which the Wall Street Journal reported yesterday is under consideration, is "likely the best way to fix the company for many reasons." Parexel has been suggested as one of LabCorp's (LH) interests, but LabCorp management may not want to take on such a deal, Windley tells investors in a research note. Parexel changes are more easily undertaken in private, he contends. The analyst has a Hold rating on the shares with a $66 price target.
02/17/17
ADAM
02/17/17
NO CHANGE
Target $150
ADAM
Buy
LabCorp price target raised to $150 from $140 at Canaccord
Canaccord analyst Mark Massaro raised his price target on LabCorp to $150 from $140 following better than expected Q4 results. The analysts feels the company guidance is set appropriately and that shares are cheap. Massaro said it remains one of his top five picks, citing the potential for improving multiple expansion and solid free cash flow. Massaro reiterated his Buy rating on LabCorp shares.
02/06/17
02/06/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AutoNation (AN) downgraded to Hold from Buy at Evercore ISI with analyst Michael Montani saying calendar year 2017 is shaping up to be an investment year and reduced estimates. The analyst said the AutoNation USA brand extension strategy means fewer franchised acquisitions and more pre-open expense for this year and next. 2. LabCorp (LH) downgraded to Neutral from Outperform at Baird with analyst Whit Mayo saying he is less convinced the company can grow earnings double digits in 2017, the current valuation is above historical averages, and he does not see an M&A deal that would meaningfully alter the risk/reward. 3. Tiffany (TIF) downgraded to Neutral from Buy at Mizuho and to Hold from Buy at HSBC. 4. CVS Health (CVS) downgraded to Neutral from Overweight at Atlantic Equities. 5. NVIDIA (NVDA) downgraded to Neutral from Buy at Roth Capital with analyst Brian Alger saying he "struggles" to articulate a valuation-driven for the stock meaningfully above current trading levels. Nonetheless, the analyst expects another "outstanding result" when the company announces earnings this week. He raised his price target on the shares to $120 from $95. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ICLR ICON plc
$94.91

1.92 (2.06%)

05/03/17
WELS
05/03/17
DOWNGRADE
WELS
Market Perform
Medpace downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Tim Evans downgraded Medpace (MEDP) to Market Perform saying the company has "considerably lower visibility than peers" on 2017 and 2018. The analyst prefers contract research organizations that are most likely to be share takers in an increasingly competitive environment. He lowered his price target range for the shares to $23-$25 from $32-$33. Evans this morning also downgraded INC Research (INCR) to Market Perform. He views PRA Health (PRAH), ICON plc (ICLR) and QuintilesIMS (Q) as share takers in the CRO space.
03/23/17
MZHO
03/23/17
INITIATION
Target $86
MZHO
Neutral
ICON plc initiated with a Neutral at Mizuho
Mizuho analyst Ann Hynes initiated ICON plc with a Neutral and an $86 price target saying valuation is fair. The analyst said ICON is facing challenges in 2017 from the cancellation of a high-profile clinical trial and near-term industry headwinds.
02/17/17
UBSW
02/17/17
NO CHANGE
Target $105
UBSW
Buy
ICON plc price target raised to $105 from $86 at UBS
UBS analyst Jonathan Groberg raised his price target on ICON plc to $105 from $86 following Q4 results. The analyst believes the company is well positioned to deliver on its 2017 guidance as the pharmaceutical industry continues to outsource more work. He also notes the company continued to expand its margins faster than the industry and sees management having the ability to minimize any earnings headwinds. Groberg reiterated his Buy rating on ICON plc shares.
06/12/17
KEYB
06/12/17
NO CHANGE
KEYB
CROs should benefit from growth of risk-based monitoring, says KeyBanc
KeyBanc says that industry guidelines recently adopted by the EU should be a catalyst for risk-based monitoring technologies, or RBM. KeyBanc says that CROs such as QuintilesIMS (Q) and ICON plc (ICON) can bundle their risk-based monitoring software-as-a-service with their other services, generating efficiencies which can increase their profits. The analyst adds that the increased use of RBM should increase the CROs' gross margins and market share over the longer run. The firm raised its price target on QuintilesIMS to $96 from $90 and on ICON to $103 from $98. It keeps Overweight ratings on QuintilesIMS and ICON.

TODAY'S FREE FLY STORIES

RGA

Reinsurance Group

$126.86

-0.36 (-0.28%)

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SRCL

Stericycle

$77.24

-1.01 (-1.29%)

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THO

Thor Industries

$107.33

-1.47 (-1.35%)

04:55
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IDCC

InterDigital

$79.80

-0.65 (-0.81%)

04:55
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  • 28

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NP

Neenah Paper

$77.80

-1.6 (-2.02%)

04:55
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Conference/Events
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  • 28

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AGCO

AGCO

$66.47

-0.67 (-1.00%)

04:55
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  • 10

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Pending Home Sales Index to be reported at 10:00 »

May Pending Home Sales…

PRTS

U.S. Auto Parts

$3.23

-0.02 (-0.62%)

04:55
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Conference/Events
U.S. Auto Parts management to meet with Roth Capital »

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  • 28

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JPMorgan life sciences analyst holds an analyst/industry conference call »

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STE

STERIS

$81.47

-1.64 (-1.97%)

04:55
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  • 28

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VTR

Ventas

$71.17

-0.76 (-1.06%)

04:55
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04:55
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Conference/Events
Ventas management to meet with Raymond James »

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  • 28

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SMTC

Semtech

$34.85

-0.6 (-1.69%)

04:55
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04:55
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Conference/Events
Semtech management to meet with Oppenheimer »

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  • 28

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  • 29

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IVZ

Invesco

$34.77

-0.24 (-0.69%)

04:55
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04:55
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Conference/Events
Invesco management to meet with Jefferies »

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  • 28

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DHXM

DHX Media

$4.30

0.15 (3.61%)

04:55
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04:55
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  • 28

    Jun

04:55
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PODD

Insulet

$49.00

-1.22 (-2.43%)

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  • 28

    Jun

NFG

National Fuel

$55.85

-0.45 (-0.80%)

04:55
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National Fuel management to meet with Jefferies »

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  • 28

    Jun

OXY

Occidental Petroleum

$59.63

-0.38 (-0.63%)

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  • 28

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NBIX

Neurocrine

$45.56

-1.75 (-3.70%)

04:55
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Neurocrine management to meet with Oppenheimer »

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  • 28

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LPI

Laredo Petroleum

$10.03

0.24 (2.45%)

04:55
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  • 28

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MPWR

Monolithic Power

$96.84

-2.67 (-2.68%)

04:55
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Monolithic Power management to meet with Oppeneimer »

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  • 28

    Jun

TRS

TriMas

$20.60

-0.1 (-0.48%)

04:55
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TriMas management to meet with Barrington »

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  • 28

    Jun

ORCL

Oracle

$50.75

-0.11 (-0.22%)

04:55
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Oracle management to meet with Evercore ISI »

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  • 28

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UNFI

United Natural Foods

$34.95

-0.08 (-0.23%)

04:55
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United Natural Foods management to meet with Oppenheimer »

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  • 28

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