Auriga Reiterates eResearch Buy, $10 PT (ERES)

Auriga reiterated its eResearch Technology ERES Buy rating and $10 price target in a research report published today. In the report, Auriga states, "While the Company's EPS guidance of $0.40-$0.50 was below our expectation of $0.55, we continue to believe that, at current multiples, the stock price reflects an even worse-case scenario. Our new estimates reflect the middle of guidance, and represent 22% EPS growth." Shares of eResearch Technology closed Tuesday at $6.38, up 0.47% from Monday's market close.