Jefferies analyst David Windley upgraded Icon (ICLR) to Buy from Hold with a price target of $135, down from $175. The stock’s current valuation makes Icon “hard to ignore,” the analyst tells investors in a research note. The firm says that while it respects AI’s potential to compress labor businesses, the market underappreciates the “high regulatory hurdles to rapid tech adoption” and the likely reinvestment of efficiencies into research and development.
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