Jefferies maintains Kendle at hold

Kendle International Inc. was maintained at hold with a price target of $26 by Jefferies & Co. Inc. after the company's third-quarter earnings per share beat Jefferies' estimate of $0.22 by $0.02, due primarily to a significant jump in margin. Analysts David Windley and Sumant Kulkami said Kendle reported a double-digit operating margin for the first time in almost six years and revenue growth of over 20%. Shares of the Cincinnati-based pharmaceutical company were down $3.06, or 11.31%, at $24.00 on volume of 419,702 shares versus the three-month running average of 248.359 shares.

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