HSBC upgraded Iqvia (IQV) to Buy from Hold with a price target of $235, up from $195. The firm expects easing regulatory “clouds” in pharma to support a re-rating of the shares. Iqvia’s Q3 commentary on book-to-bill and requests for proposal flows will be catalysts for the shares, the analyst tells investors in a research note. HSBC views the company as a “geared play in a recovery cycle” and sees attractive risk/reward into the Q3 report.
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