PPD price target upped by Jefferies

Pharmaceutical Product Development Inc. was maintained by Jefferies & Co. analyst David Windley at a hold rating but he increased his price target to $54 from $50 on the stock following second quarter results. PPD, based in Wilmington, N.C., provides various services, including preclinical and clinical trials as well as post-market support such as product launch. PPD shares Thursday gained $10.28, or 21.18%, to $58.82 on volume of 3.55 million shares versus the three-month running average of 281,462.

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