Evercore ISI analyst Elizabeth Anderson CFA has maintained their bullish stance on ICLR stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Elizabeth Anderson CFA’s rating is based on several positive indicators for Icon’s stock. The company has shown a promising set of data points suggesting an upward cycle, with better-than-expected bookings-to-billings in the second quarter and an improvement in revenue. This improvement is supported by stable demand in the pharmaceutical sector, enhanced performance in biotech, and increased activity in the cardio-metabolic area, alongside Icon’s market share gains.
Furthermore, Icon is perceived as a structural leader in the clinical contract research organization space, benefiting from both its strong market position and the cyclical recovery of the industry. The management’s realistic expectations could lead to further growth if demand continues to rise, particularly in non-pass-through revenue. Consequently, the EPS forecasts for 2025 and 2026 have been raised, and the new price target of $240 reflects a valuation that remains attractive given the potential for further positive earnings revisions.
In another report released today, Leerink Partners also reiterated a Buy rating on the stock with a $240.00 price target.