Jefferies maintains Parexel at hold

Parexel International Corp. was maintained at hold by Jefferies & Co., Inc. analyst David Windley after net new business was impressive, but negatively revised organic revenue guidance and a sizeable contract loss caused angst amongst investors. The price target was lowered to $34.50. Parexel reported $0.25 per share earnings on $165.1 million in revenue for the fiscal first quarter of 2007, compared to estimates of $0.24 on $163.3 million from Jefferies. Shares of the Waltham, Mass.-based biopharmaceutical company were up $1.05, or 3.59%, at $30.30, on volume of 665,968 shares versus the three-month running average of 318,767 shares. (Nasdaq: PRXL)

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