UPDATE: Bank of America Initiates Quintiles Transnational at Buy on Positive Outlook

In a report published Tuesday, Bank of America analyst Derik de Bruin initiated coverage on Quintiles Transnational (NYSE: Q) with a Buy rating and $51.00 price target.

In the report, Bank of America noted, “We are positive on Quintiles' outlook as industry challenges ease and as the company's global reach, scale, and differentiated portfolio, especially in clinical trial informatics and genomic services, help capture incremental market share. Quintiles' strong brand, stability, and focus on regulatory compliance are also likely to help continue to attract and retain customers.”

Quintiles Transnational closed on Monday at $43.53.