Parexel reiterated at buy by Jefferies

Jefferies & Co., Inc. analyst David Windley reiterated Parexel International Corp. at a buy with a $36 price target. According to the analyst, the company has strengthened backlog and accelerated revenue. The next step for management is to step up the intensity regarding driving higher incremental margin. Parexel reported earnings per share of $0.31 on $169.5 million, compared to Jefferies' estimate of $0.28 on $162.9 million and consensus of $0.28 on $163 million. Shares of the Waltham, Mass.-based biopharmaceutical company were up 14 cents, or 0.47%, at $30.02, on volume of 377,341 shares versus the three-month running average of 278,835 shares. (Nasdaq: PRXL)

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