Deutsche Bank Downgrades ICON plc (ICLR) to Hold; Limited Near-Term EPS Visibility

Deutsche Bank downgraded ICON plc (Nasdaq: ICLR) from Buy to Hold, price target lowered to $18.50.

Deutsche analyst said, "While the Pfizer (NYSE: PFE)(Buy-rated) strategic partnership is a long-term positive for ICLR, limited near-term EPS visibility due to contract on-boarding complications give us cause for concern. Additionally, potential core bookings weakness and a profit drag from slow central lab revenue conversions may also continue to limit EBIT growth. We continue to see significant long-term potential for value creation, but a high degree of N-T uncertainty in the business outweighs this optimism. Given fair risk-reward at the current valuation, we are downgrading to Hold."

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

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Deutsche Bank Downgrades Qifu Technology (3660:HK) (QFIN) to Hold
• JPMorgan Downgrades KinderCare Learning Companies (KLC) to Underweight
• Deutsche Bank Downgrades AtaiBeckley Inc (ATAI) to Hold