Analyst Michael Cherny from Leerink Partners reiterated a Buy rating on IQVIA Holdings and increased the price target to $222.00 from $200.00.
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Michael Cherny has given his Buy rating due to a combination of factors that indicate potential growth for IQVIA Holdings. The company’s recent quarterly results showed an increase in request for proposal (RFP) activity, particularly from emerging biopharma clients, which suggests a positive trend for future revenue streams. IQVIA’s proactive approach in securing new business has also contributed to an increase in revenue and backlog, demonstrating their ability to capture market share.
Additionally, the strong performance of their Technology & Analytics Solutions (TAS) segment, driven by real-world evidence, further supports the positive outlook. While there are concerns regarding pricing and margin pressures, the overall signs of improvement in RFP flows and business wins have led to increased confidence in the company’s growth prospects. Consequently, Cherny has raised the 12-month price target for IQVIA from $200 to $222, reflecting the anticipated growth and enhanced market position.
Cherny covers the Healthcare sector, focusing on stocks such as Hims & Hers Health, Align Tech, and Cardinal Health. According to TipRanks, Cherny has an average return of 3.7% and a 51.80% success rate on recommended stocks.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $220.00 price target.