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Fly News Breaks for June 8, 2016
PRXL, ICLR
Jun 8, 2016 | 07:24 EDT
Wells Fargo believes that the favorable resolution of a number of hangovers could cause ICON's (ICLR) multiple to rise significantly. The firm thinks that the company has a number of potential positive catalysts going forward, including growth from sources other than Pfizer (PFE), margin increases and better than expected results. Wells thinks the stock could reach $85 in 12 months. ICON replaced PAREXEL (PRXL) on Wells' top pick list, as the firm thinks that PAEXEL has less multiple expansion potential than ICON.
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