UPDATE: Deutsche Bank Downgrades The Advisory Board Company to Hold

Deutsche Bank is out with its report today on The Advisory Board Company ABCO, downgrading ABCO to Hold. In a note to clients, Deutsche Bank writes, "We are lowering our recommendation on The Advisory Board to Hold from Buy as ABCO has achieved our $57 price target, which we are leaving unchanged. We also make no changes to our estimates. At 42x our CY11E EPS, ABCO is trading at the high end of its historical trading range, so we reduce our rating due to its full valuation. We advise investors to switch into Huron Consulting due to its also high exposure to hospital consulting, more attractive valuation, and higher probability of a guidance raise, in our view." Shares of ABCO closed Thursday at $57.88.