Jefferies Upgrades ICON plc (ICLR) to Buy; Increased Confidence After Meeting w/Mgmt
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Price: $33.14 -0.66%
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade ICLR Now!
Jefferies upgraded ICON plc (NASDAQ: ICLR) from Hold to Buy with a price target of $29.00 (from $24.00).
Analyst, David Windley, said, "ICON management expressed confidence in the near- to intermediate-term outlook during our meetings with them last week. Revenue will step up sequentially in 2H12 with Pfizer, as well as other clients, contributing. Utilization, and thus margin, should improve simultaneously. We raise our 2013 EPS by 6% with higher conviction on Clinical growth. Management will provide '13 guidance on the 3Q call...next catalyst."
FY13 EPS estimate raised from $1.42 to $1.51.
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 $24.04 yesterday, with a 52 week range of $15.03-$25.03.
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Analyst, David Windley, said, "ICON management expressed confidence in the near- to intermediate-term outlook during our meetings with them last week. Revenue will step up sequentially in 2H12 with Pfizer, as well as other clients, contributing. Utilization, and thus margin, should improve simultaneously. We raise our 2013 EPS by 6% with higher conviction on Clinical growth. Management will provide '13 guidance on the 3Q call...next catalyst."
FY13 EPS estimate raised from $1.42 to $1.51.
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 $24.04 yesterday, with a 52 week range of $15.03-$25.03.
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