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PRA on hold by Jefferies
PRA International, Inc. was given a hold rating with a decreased price target of $25 by Jefferies & Co., Inc. analyst David Windley as the company reported first-quarter 2006 results and 2006 guidance below consensus. PRA had first-quarter revenues of $69.2 million (9% miss) and earnings per share of $0.28, $0.04 below the analyst's estimate and consensus. Shares of the Reston, Va., contract research organization were down $0.61, or 2.53%, at $23.54 on volume of 573,039 shares versus the three-month running average of 195,980 shares. (Nasdaq: PRAI)
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