RBC Capital Upgrades ICON plc (ICLR) to Outperform

RBC Capital analyst Ryan Halstead upgraded ICON plc (NASDAQ: ICLR) from Sector Perform to Outperform with a price target of $185.00 (from $126.00).

The analyst comments: “We are upgrading ICON to Outperform and raising our PT to $185 from $126. We have been looking for further data points that proved the strong 4Q25 was sustainable and 1Q26 delivered. Two consecutive quarters of strong bookings, win rates sustained at stepped-up levels, and "notably strong" 2Q pipeline give us confidence the inflection is durable and the accounting review is fully behind us. We now see 2026 numbers as achievable, if not conservative, and a credible path to MSD organic growth in 2027, which Street estimates are not yet capturing. Our PT reflects a 13x EV/EBITDA multiple.”

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 $158.17 yesterday.

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