Icon price target lowered to $263 from $271 at Guggenheim

Guggenheim analyst Sandy Draper lowered the firm’s price target on Icon to $263 from $271 and keeps a Buy rating on the shares. The company reported a "down the middle of the road" quarter with no surprises and results that met consensus estimates "across the board," the analyst tells investors. The CRO space may lack a significant near-term catalyst to expand multiples, but Guggenheim thinks downside risk is limited.