Jefferies keeps PDI on hold

PDI, Inc. was maintained at its hold rating and $12 price target by Jefferies & Co., Inc. analyst David Windley on news that GlaxoSmithKline will not renew its contract sales agreement, worth an estimated $65 million to $70 million in annual revenues, with PDI. The contract will expire on Dec. 31. Shares of the Saddle River, N.J.-based outsourced sales and marketing company were up 39 cents, or 3.54%, at $11.40. (Nasdaq: PDII)

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