Barclays analyst Luke Sergott double downgraded Syneos Health to Underweight from Overweight with a price target of $25, down from $30. The analyst sees a tale of two halves in 2023 for the contract research organizations, with biotech funding weak through the first half and "some relief" in the second half once the macro environment turns more positive. He upgraded Icon and double downgraded Syneos as part of his 2023 outlook.
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Published first on TheFly
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