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Equities researchers at Jefferies Group hoisted their price objective on shares of Covance (NYSE:CVD) from $105.00 to $115.00 in a research report issued on Thursday, AnalystRatings.NET reports. Jefferies Group’s price target would suggest a potential upside of 17.14% from the stock’s previous close.

Shares of Covance (NYSE:CVD) traded down 1.34% during mid-day trading on Thursday, hitting $98.17. The stock had a trading volume of 1,035,866 shares. Covance has a 52-week low of $65.40 and a 52-week high of $97.48. The stock’s 50-day moving average is $91.34 and its 200-day moving average is $86.4. The company has a market cap of $5.514 billion and a price-to-earnings ratio of 33.51.

Covance (NYSE:CVD) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.84 by $0.03. The company had revenue of $623.00 million for the quarter, compared to the consensus estimate of $613.80 million. During the same quarter last year, the company posted $0.73 earnings per share. Covance’s revenue was up 10.8% compared to the same quarter last year. On average, analysts predict that Covance will post $3.81 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of Covance from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, January 21st. They now have a $101.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Deutsche Bank initiated coverage on shares of Covance in a research note to investors on Wednesday, November 20th. They set a “hold” rating and a $81.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Covance from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, November 11th. They now have a $92.70 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Covance presently has an average rating of “Hold” and an average target price of $89.09.

Covance Inc is a drug development services company providing a range of early-stage and late-stage product development services on a worldwide basis primarily to the pharmaceutical, biotechnology and medical device industries.

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