UPDATE: Jefferies Color On PRXL Management Discussions

Jefferies, which raised its PT on shares of Parexel International Corp. PRXL, is providing some color on the stock. “Parexel management discussed improving RFPs, cost reduction initiatives, and long-term margin expansion,” Jefferies writes. “The discussion gave a better understanding of the strategic relationship paradigm and impact on backlog/revenue.” Parexel International Corp. closed Friday at $23.29.