Jefferies maintains PRA hold rating

PRA International was maintained at hold with a $29 price target by Jefferies & Co. Inc. analysts David Windley and Sumant Kulkarni after the company reported third-quarter earnings per share of $0.38 versus the estimated $0.31. Any potential upgrade was tempered, however, by the fact that revenue growth was only 7.5% last quarter versus 10% for the first half of 2005, and the tax rate contributed to $0.04 of the upside. Shares of the Reston, Va.-based research services company were down $1.45, or 5.07%, at $27.15 on volume of 222,944 shares versus the three-month running average of 70,537 shares.

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