Jefferies puts Parexel at buy

Parexel International Corp. was given a buy rating and a $32 price target by Jefferies & Co., Inc. analyst David Windley, acknowledging the company's aggressive trend of backlog growth. Parexel management adjusted its 2006 earnings-per-share estimate to $0.86 to $0.89 on $605 million to $610 million of sales, from $0.82 to $0.90 on $600 million to $610 million of sales. Shares of the Waltham, Mass., biopharmaceutical company were up 63 cents, or 2.18%, at $29.51 on volume of 561,189 shares versus the three-month running average of 218,352 shares. (Nasdaq: PRXL)

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