Skip to main content

Market Overview

ICON Shares Added To Goldman's 'Conviction Buy' List

Share:
ICON Shares Added To Goldman's 'Conviction Buy' List

Goldman Sachs analyst Robert Jones continues to see Icon PLC (NASDAQ: ICLR) shares undervalued as he added the pharmaceutical company to America’s Conviction List. Jones has a Buy rating on the stock with a revised price target of $117.

“We see a path for ICLR to continue its outperformance given: (1) continued healthy industry fundamentals (solid pipeline growth and public/private funding remain well above averages); (2) non-PFE bookings and revenue strength; and (3) attractive M&A optionality both as a target and an acquirer given its sizeable balance sheet firepower,” he said.

Related Link: 6 Biotech Stocks Jefferies Says Are Undervalued

Key Takeaways

  • Positive industry fundamentals- Funding, R&D growth, and rate of outsourcing all appear to be at healthy levels.
  • Due to a lack of large-scale CRO assets, Icon PLC could be an attractive acquisition target.
  • Jones’ theses is not dependent on margin expansions and he sees strong undervalued transaction outside of Icon PLC's top-client.

Latest Ratings for ICLR

DateFirmActionFromTo
May 2021MizuhoMaintainsBuy
Apr 2021Credit SuisseMaintainsOutperform
Apr 2021JefferiesMaintainsBuy

View More Analyst Ratings for ICLR
View the Latest Analyst Ratings

 

Related Articles (ICLR)

View Comments and Join the Discussion!

Posted-In: Goldman Sachs Robert JonesAnalyst Color Analyst Ratings Best of Benzinga

Latest Ratings

StockFirmActionPT
NETIJefferiesMaintains22.0
ATUSB of A SecuritiesDowngrades38.0
CNIVertical ResearchUpgrades
LINVertical ResearchUpgrades330.0
SITEBerenbergUpgrades207.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com