Jefferies: Pharmaceutical Product a buy

Pharmaceutical Product Development was reiterated at a buy rating by Jefferies & Co., Inc. analyst David Windley. The company's price target was raised to $73 from $67. The company reported fourth-quarter 2005 earnings per share of $0.58. Management reaffirmed 2006 guidance and announced a 2-for-1 stock split. Shares of the Wilmington, N.C., pharmaceutical company were down 16 cents, or 0.24%, at $66.30 on volume of 455,207 shares versus the three-month running average of 356,394 shares. (Nasdaq: PPDI)

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