UPDATE: Goldman Sachs Resumes Quintiles (Q) at Buy

October 5, 2016 7:25 AM EDT
Get Alerts Q Hot Sheet
Price: $76.07 +0.64%

Rating Summary:
    9 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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(Updated - October 5, 2016 8:39 AM EDT)

Goldman Sachs resumed coverage on Quintiles (NYSE: Q) with a Buy rating and a price target of $94. Analyst Robert P. Jones thinks conservative assumptions, along with modest improvements in win and conversion rates will result in upside to estimates and guidance.

"Whether the merger of the largest CRO and the largest healthcare database globally will result in meaningfully more productive drug trial management will take a few years to bear out. That said, we think under conservative assumptions, modest improvements in win and conversion rates will result in upside to estimates/guidance. Against a favorable CRO fundamental backdrop and an expectation for continued relative stability in the legacy IMS business, we see an attractive entry point with shares of Q 20% below its 5-year average premium to the S&P. We remove the NR designation from Q shares and add Q to the Buy List with a 12-month price target of $94," said Jones.

For an analyst ratings summary and ratings history on Quintiles click here. For more ratings news on Quintiles click here.

Shares of Quintiles closed at $78.79 yesterday.

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