On July 23, IQVIA rose 5.78% in pre-market trading, trading at $210.95/share, with turnover of $665,900. The stock rallied as multiple investment banks recently raised their price targets ahead of the company's Q2 earnings report scheduled for July 28.
In recent weeks, Leerink Partners raised its target from $213 to $240, Baird lifted its target to $252, Mizuho raised to $230, HSBC adjusted to $240, and Evercore ISI moved to $225, all maintaining outperform or equivalent ratings. Management previously guided full-year revenue of $17.15 billion to $17.35 billion, with AI enablement and clinical trial recovery forming core mid-term growth drivers. The company beat Q1 estimates with adjusted EPS of $2.90 versus the $2.82 consensus, reinforcing recovery momentum.
The broader Life Sciences Tools & Services sector traded higher on the same day, with Thermo Fisher Scientific up 6.22%, Danaher up 2.57%, Agilent up 2.11%, Repligen up 2.08%, and Waters up 1.94%.
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