TD Cowen Downgrades ICON plc (ICLR) to Hold

TD Cowen analyst Charles Rhyee downgraded ICON plc (NASDAQ: ICLR) from Buy to Hold with a price target of $157.00 (from $254.00).

The analyst comments "We entered 2025 more optimistically, as we thought a rebound in demand in 2H25 would occur as biopharma reprioritizations come to an end, leading to accelerating growth in 2026 off historical trough multiples. But our checks have since dissuaded us of that notion, and our analysis suggests that the ongoing shift to FSP is likely to affect ICLR the most in '25 and '26. We trim our PT to $157."

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 $144.04 yesterday.

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