Goldman Sachs Starts INC Research Holdings (INCR) at Buy

Goldman Sachs initiated coverage on INC Research Holdings (NASDAQ: INCR) with a Buy rating and a price target of $28.00.

Analyst Robert P. Jones said, "INCR is an attractive CRO growth story with (1) greater exposure to fast-growing therapeutic areas; (2) relatively lower client concentration than its closet peers; (3) and visible margin and below-the-line levers. Together, these factors drive our 32% 2014E-2016E EPS CAGR, well above its 15% peer average, and warrant a premium valuation in our view. We acknowledge greater potential bookings volatility but see INCR as an attractive way to gain exposure to favorable R&D trends at reasonable valuation (20.3x 2015 EPS; 0.6x PEG)."

For an analyst ratings summary and ratings history on INC Research Holdings click here. For more ratings news on INC Research Holdings click here.

Shares of INC Research Holdings closed at $24.00 yesterday.

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