Deutsche Bank Reiterates Buy Rating On CVD And ICLR

Deutsche Bank is reiterating its Buy rating on shares of Covance Inc.

and ICON plc

. “Key takeaways from the Annual Partnerships in Clinical Trials Conference: 1) Vendor consolidation amongst biopharma clients (from 10-to-15 to 2-to-4) and momentum towards strategic deals continues to accelerate,” Deutsche Bank writes. “2) Emerging markets and increased penetration of R&D to drive industry growth. 3) Impact on OMs from pricing discounts to be largely offset by efficiency gains. Given our thesis, we reiterate our Buy rating of CVD (best leverage to strategic deals) and ICLR (GARP).” ICON closed Monday at $21.48; Covance closed at $57.46.