Iqvia price target lowered to $180 from $190 at BofA

BofA analyst Michael Ryskin lowered the firm’s price target on Iqvia (IQV) to $180 from $190 and keeps a Buy rating on the shares. The new administration’s policy changes and positions have created further uncertainty, resulting in a soft start to FY25, says the analyst, who believes limited visibility in the near-term and macro challenges will remain an overhang for Contract Research Organizations in coming quarters. Given that view, the analyst trimmed estimates for most of the firm’s CRO coverage universe, but adds that even with lower estimates, current CRO valuations “remain attractive and are close to their all-time lows compared to historic levels.”