Jefferies keeps Covance at buy

Covance, Inc. was maintained by Jefferies & Co., Inc. analyst David Windley on news that the company's solid quarter was highlighted by a 1.27 book-to-bill ratio and 24% year-over-year pro forma earnings per share growth. Covance reported third-quarter earnings per share of $0.55, in line with consensus and Jefferies' estimate. Shares of the Princeton, N.J.-based drug development services company were down 63 cents, or 8.65%, at $59.42. (NYSE: CVD)

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