Jefferies rates Covance at buy

Covance Inc. was given a buy rating by Jefferies & Co., Inc. analyst David Windley after day one of the two-day Life Sciences conference. The company's outsourced research and development market will be worth $14 billion, or about 9% of the market. Shares of the Princeton, N.J.-based product development services company were up 49 cents, or 0.82%, at $60.40 on volume of 484,270 shares versus the three-month running average of 516,270 shares. (NYSE: CVD)

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