Goldman likes CRO space, sees 17% upside in IQVIA; shares up 2%

|About: IQVIA Holdings, Inc. (IQV)|By:, SA News Editor

Goldman Sachs analyst Robert Jones likes contract research organizations citing healthy fundamentals and no real signs of a trend reversal this year, adding that investment capital continues to flow into biotechs at above-the-norm levels and global pharma R&D budgets remain healthy.

Earlier today, he upgraded IQVIA (IQV +1.8%) to Buy with a $114 (17% upside) price target after becoming more confident of its near-term earnings trajectory which he believes positions the company to beat guidance this year even without the revenue synergies hitting the bottom line.

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