Jefferies reiterates inVentiv's buy rating

inVentiv Health, Inc. was reiterated at a buy with an increased price target of $34.50 by Jefferies & Co., Inc. analyst David Windley. inVentiv is expanding both its offerings and its revenues by leveraging relationships with its biopharmaceutical clients, acquisitions and cross-selling. Jefferies forecasts earnings-per-share growth of 15% to 25% in the next two years. Net revenues, excluding passthroughs, beat the analyst's estimate by $12.5 million. Jefferies increased its 2006 and 2007 earnings-per-share estimates to $1.48 and $1.90. Shares of the Somerset, N.J., pharmaceutical services company were up 75 cents, or 2.42%, at $31.75 on volume of 895,911 shares versus the three-month running average of 249,900 shares. (Nasdaq: VTIV)

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