ICON plc (ICLR): 4 Key Insights - Jefferies

Jefferies analyst, David Windley, reiterated his Hold rating on shares of ICON plc (NASDAQ: ICLR) after the company reported solid bookings, despite a lower PFE contribution, and a lowered bar on revenue and EPS guidance elicited a strong positive reaction.

The analyst noted 4 things from the report:

1) Top Client Progression - Steeper 2H Decline Than Anticipated.

2) Rev. Guidance Reduced; EPS Reaffirmed.

3) Capital Deployment Schedule.

4) Conversion Still an Issue; Cancellations Aren't Helping.

The price target goes to $80.00 (from $78.00).

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

Shares of ICON plc closed at $74.56 yesterday.

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