Medpace price target lowered to $484 from $522 at RBC Capital

RBC Capital analyst Ryan Halsted lowered the firm’s price target on Medpace (MEDP) to $484 from $522 and keeps an Outperform rating on the shares after its Q1 results and affirmed guidance. The firm notes the company’s competitive differentiation with the biotech and the market is positioning it to grow relatively faster though RBC’s updated estimates incorporate slower bookings growth and improved EBITDA margins, the analyst tells investors in a research note.