Pharmaceutical Product Development (NASDAQ:PPDI) Gives Strong 2011 Guidance

Guidance from Pharmaceutical Product Development (NASDAQ:PPDI) gave impetus to the shares Thursday, and appears to has sustainability.

Jefferies noted, "As a result (of guidance), a muted reaction or even some profit-taking would not be surprising. The company's fundamentals seem in order, in our view, revenue is accelerating and margins should expand helping to drive earnings. We believe the growth story remains intact."

Jefferies boosted their full year 2011 EPS and revenue estimates from $1.49 and $1.5 billion to $1.60 and $1.54 billion in response to the guidance.

They maintain their "Buy" rating on Pharmaceutical Product Development (PPDI), which closed Thursday at $29.33, gaining $0.90, or 3.17 percent. Jefferies raised their price target on PPDI from $29 to $32.