UPDATE: Medpace (MEDP) PT Raised to $149 at Jefferies

Jefferies analyst David Windley raised the price target on Medpace (NASDAQ: MEDP) to $149.00 (from $143.00) while maintaining a Hold rating.

The analyst comments "Mgmt's comments shine a light on the greater level of uncertainty in CRO business conditions. Notably, many metrics are quite positive. But like a duck's furious paddling under the water's surface, operational activity (at least for MEDP) is much more volatile than the reported numbers portray. We think rev growth is slowing and will slow more in '23. The extent of that slowdown depends on how low cash balances get for MEDP's core small biotech customers."

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