Jefferies upgraded Iqvia (IQV) to Buy from Hold with a price target of $225, up from $195. The firm names the company its new top pick among the contract research organizations. The company’s “stronger” business-to-business metrics and workforce stability signal that it is holding up better than peers, the analyst tells investors in a research note. The firm believes Iqvia’s less customer concentration relative to the sector means it can likely absorb pharma restructurings and should drive a higher valuation.
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