On Nov 05, major Wall Street analysts update their ratings for $IQVIA Holdings (IQV.US)$, with price targets ranging from $240 to $273.
Morgan Stanley analyst Tejas Savant maintains with a buy rating, and maintains the target price at $265.
J.P. Morgan analyst Anne Samuel maintains with a buy rating, and adjusts the target price from $279 to $240.
Stifel analyst Shlomo Rosenbaum maintains with a buy rating, and adjusts the target price from $312 to $273.
BTIG analyst David Larsen maintains with a buy rating, and maintains the target price at $260.
RBC Capital analyst Sean Dodge maintains with a buy rating, and maintains the target price at $270.
Furthermore, according to the comprehensive report, the opinions of $IQVIA Holdings (IQV.US)$'s main analysts recently are as follows:
Iqvia's third quarter saw a 'modest beat' primarily due to strong performance in TAS, yet this positive development is currently being overshadowed by challenges in R&DS. These include a significant cancellation and the postponement of two 'mega trials' to 2025. Despite these headwinds, the risk/reward proposition is considered favorable following the recent decline in share value.
Following Iqvia's Q3 report, the market appears relatively stable, although the company is experiencing challenges with bookings due to delays and drug failures, rather than significant effects from pipeline rationalization.
The company has encountered a challenging industry operating environment. Comments from the company suggest that adjustments related to pharma portfolio reprioritizations connected with the IRA may be coming to a conclusion, and it appears the company could benefit from the pharmaceutical industry's trend towards vendor consolidation.
Iqvia's overall revenue, adjusted EBITDA, and adjusted EPS surpassed consensus expectations. Nevertheless, the company has scaled back its projections for 2024 across all metrics. This revision is largely attributed to the Inflation Reduction Act and broader economic challenges. Additionally, the guidance for R&DS has been adjusted downward, stemming from delays and the cancellation of two substantial trials.
The firm expressed concerns regarding near-term CRO marketplace dynamics. With the majority of the company exhibiting a slow or weakening trend, there is skepticism about whether the improving segment of the company will contribute significantly more than just providing balance.
Here are the latest investment ratings and price targets for $IQVIA Holdings (IQV.US)$ from 6 analysts:
Note:
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