On Wednesday, Truist Securities revised its price target for ICON plc (NASDAQ:ICLR), a global provider of outsourced development services to the pharmaceutical, biotechnology, and medical device industries. The firm has lowered the target to $284 from the previous $295, while retaining a Buy rating on the stock.
The adjustment follows a recent interaction with the company, during which ICON did not provide any updates on intra-quarter trends.
"We are also updating our model to reflect the company's commentary at a recent healthcare investor conference around margins trends and expectations," the firm said.
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