ICON Receives ‘Buy’ Rating (GS, ICLR, PPDI)
Goldman Sachs (NYSE: GS) has released its report covering the Healthcare Services segment. Goldman (GS) has chosen ICON (NASDAQ: ICLR) and PAREXEL as its top picks. ICON's CFO stated that he expects solid business wins in 1Q to be a “multi-quarter phenomenon’ He also said that current operating margin guidance of 12-12.5% is not representative of long-term goals. The CFO thinks 13% in 2011 is a realistic target.
In other company news, Pharmaceutical Product Development Inc. (NASADQ: PPDI) COO Bill Sharbaugh said that the company is in a period of sponsor rotation but is well positioned to secure new strategic deals in the near term. PPD’s long-term margin goals remain 50% gross margin and 20% operating margin. Goldman has retained its ‘Neutral’ rating for PPDI.
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