Cerep on hold by Jefferies

Jefferies & Co., Inc. analyst Robin Campbell rated Cerep at hold as the company's fortunes hang on its ability to develop value-added services. The analyst sees potential in the clinical services, but delivering on the whole is essential. Jefferies downgraded its price target to €8.5 based on an outlook for lower revenue growth and higher spending. Shares of the Paris-based pharmaceutical company were up €0.01, or 0.13%, at €7.51 on volume of 7,960 shares versus the three-month running average of 17,035 shares. (Paris: CER)

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