Parexel at hold by Jefferies

Parexel International Corp. was upgraded to a hold at a $25 price target from underperform by Jefferies & Co., Inc. analyst David Windley. New business in the second quarter was deemed impressive by the analyst, with respectable book-to-bill. Earnings per share of $0.19 for the same quarter beat the analyst's estimate by $0.03. Fiscal-year 2006 earnings-per-share guidance calls for $0.79 to $0.87 and sales of $600 million to $610 million. Shares of the Waltham, Mass., biopharmaceutical company were up 12 cents, or 0.49%, at $24.77 on volume of 254,085 shares versus the three-month running average of 130,008 shares. (Nasdaq: PRXL)

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