Jefferies Maintains Buy on PAREXEL Int'l (PRXL)

Jefferies is out with its report today on PAREXEL Int'l PRXL, maintaining Buy. In a note to clients, Jefferies writes, "PAREXEL reported earnings that missed expectations. Management's guidance reduces revenue, but offsets that with higher costs? Share gains continue to drive high backlog growth. Completion of systems implementations and LEAP initiative promise cost savings, but near-term stumbles challenge investors long-term patience." Piper Jaffray has a $30 PT on PRXL. Shares of PRXL closed Monday at $27.02, down 2.67% from Friday's close.