Icon price target raised to $383 from $367 at Truist

Truist raised the firm’s price target on Icon to $383 from $367 and keeps a Buy rating on the shares after its Q2 earnings beat. The company grew revenue outside its top five customers by over 8%, which has helped offset headwinds from COVID work and FX this year, and the management believes this dynamic is likely to continue playing out in the second half of 2024, the analyst tells investors in a research note.