ICON (ICLR) can achieve high-single-digit growth by 2026 if hurdles with two large pharmaceutical customers are cleared and biotech funding improves, UBS Securities said Thursday in a report.
On Wednesday, ICON reported Q3 revenue and net bookings that trailed UBS estimates amid reduced demand from the two undisclosed clients, biotech sector softness and vaccine-related cancellations.
"Management was adamant that the pharma-related driver of Q3 underperformance was isolated to the two highlighted companies," UBS said.
The 2025 outlook, which indicates growth from the low to mid-single-digit, is better than expected and will support a return to high-single-digit growth by 2026, UBS said.
UBS reduced its price target on ICON's stock to $290 from $380 and reiterated its buy rating.
Price: 222.48, Change: +0.75, Percent Change: +0.34
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。