Jefferies Boosts Numbers on ICON (ICLR) After Results

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April 25, 2012 8:31 AM EDT
Get Alerts ICLR Hot Sheet
Price: $166.10 --0%

Rating Summary:
    13 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 8
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Jefferies boosted its price target on ICON plc (NASDAQ: ICLR) from $18.50 to $24 following solid results. The firm maintained their Hold rating.

"ICLR's strong bookings are creating a backlog trajectory that begins to look more like that of faster growing peers and supports long-term, double-digit revenue growth. Margin also recovered impressively in the quarter. However, management did not raise 2012 revenue and gave several reasons for that. We are lowering our 2012 EPS on the higher tax rate."

FY12 EPS goes from $0.98 to $0.95 and FY13 goes from $1.35 to $1.44.

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 $22.40 yesterday.

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