Analyst Charles Rhyee from TD Cowen maintained a Buy rating on IQVIA Holdings and increased the price target to $206.00 from $168.00.
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Charles Rhyee has given his Buy rating due to a combination of factors that highlight IQVIA Holdings’ strategic positioning in a challenging macroeconomic environment. Despite the broader market difficulties, IQVIA has managed to deliver better-than-expected results by focusing on gaining market share, particularly in the biotech sector. This focus is supported by their business diversification and strong growth in Technology and Analytics Solutions (TAS), which are crucial components of their resilience.
Additionally, IQVIA’s management has implemented the ‘See More, Win More’ strategy to expand their business development efforts, especially in mid-sized and emerging biopharma markets. While this approach may initially impact pricing and margins, the company plans to mitigate these pressures through operational expense management and increased use of agenticAI technologies. These strategic initiatives underscore IQVIA’s ability to navigate and thrive in the current market conditions, justifying the Buy rating.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $220.00 price target.