IQVIA Holdings, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sidharth Sahoo from HSBC upgraded the rating on the stock to a Buy and gave it a $235.00 price target.
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Sidharth Sahoo has given his Buy rating due to a combination of factors including easing regulatory pressures and positive forward-looking indicators. The regulatory environment for large pharmaceutical companies is becoming more favorable, with significant relief coming from recent agreements that mitigate pricing concerns. This development is expected to enhance demand for IQVIA’s services as their clients move beyond policy-related uncertainties.
Sidharth Sahoo also highlights an attractive risk-reward scenario for IQVIA, noting that the company is well-positioned to outperform its peers in the Contract Research Organization sector. The potential for interest rate cuts is anticipated to further support IQVIA’s valuation through multiple expansion. Additionally, Sidharth’s analysis suggests that IQVIA’s earnings per share growth is expected to exceed consensus estimates, providing further justification for the upgraded target price and Buy recommendation.
According to TipRanks, Sahoo is an analyst with an average return of -1.2% and a 30.77% success rate. Sahoo covers the Healthcare sector, focusing on stocks such as Labcorp Holdings, Thermo Fisher, and UnitedHealth.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $240.00 price target.