Jefferies Raises Price Target on ICON plc (ICLR) to $87.50; Reiterates Hold
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies reiterated a Hold rating on ICON plc (NASDAQ: ICLR), and raised the price target to $87.50 (from $80.00), following the company's 3Q. Revenue grew ~15.7% in 3Q and ~11.8% YTD. SG&A has remained flat for 6 quarters and has declined 140 bps as a percentage of revenue. ICLR also announced CEO Murray will transition to Chairman of the Board. COO Cutler will become CEO, effective March 2017.
Analyst David Windley commented, "In short, in-line results were better than feared. ICLR provided needed clarity on FY17 PFE expectations, including PFE. 3Q results provided in-line revenue, a $0.01 EPS beat, and solid bookings (1.21x). Organic revenue growth will still be challenging in FY17, but could return to mid-to-high single digits in FY18. We remain at HOLD, but raise our PT to $87.50."
Shares of ICON plc closed at $84.73 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- Deutsche Bank Downgrades MGM Growth Properties (MGP) to Hold
- Oppenheimer Raises Price Target on Bob Evans Farms (BOBE) Following 2Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!