Truist lowered the firm’s price target on Icon (ICLR) to $190 from $208 and keeps a Buy rating on the shares following quarterly results. In a post quarterly-call, management emphasized its focus and positioning in a tough macro environment. While Icon already saw 2025 as a transition year, the company is continuing to see broader macro uncertainty accentuate market risks as it progressed through the year. Notably, the company sees positive leading indicators of midterm demand, alongside more challenging dynamics of elevated cancellations and delays in clinical trial decisions and starts, Truist notes.
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