EXBD a Sell Prior to Earnings - Analyst Blog
The Corporate Executive Board Company (
EXBD) provides research and analysis to more than 4,700 corporations for a fixed annual membership fee. The company targets top-level executives across a multitude of industries, and then identifies the common issues facing those individuals in a given year.
We maintain our Sell rating on shares of EXBD prior to the release of third-quarter results. We slightly reduced our full-year estimate following the release of Q2 results, as the company's outlook remains modest, in part due to the fact that EXBD has yet to improve its cross-sell ratio.
Given the current operating pressures, along with ongoing concerns regarding a slowing economy, we believe the shares should trade at a discount to the peer group average. As such, we anticipate that the company's shares will underperform the market in the near-term. We will update our outlook and estimates following the release of Q3 results on 10/22.
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