Medpace upgraded to Hold from Sell at TD Cowen

TD Cowen upgraded Medpace (MEDP) to Hold from Sell with a price target of $419, down from $462. The shares have re-rated from a peak multiple and now reflect fair value, the analyst tells investors in a research note. TD also thinks Medpace should benefit from an improving biotech backdrop in 2026. The company’s focus on biotech should help it retain more AI-driven savings relative to peers, contends TD.