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Fly News Breaks for October 22, 2018
CRM, IQV
Oct 22, 2018 | 18:22 EDT
Piper Jaffray analyst Sean Wieland raised his price target on Iqvia (IQV) to $131 after its Q3 earnings beat, saying that in spite of the FX and ASC606 accounting-related headwinds, the company also posted in-line revenues. The analyst cited cost containment supporting margin upside along with a "raise on profitability metrics". Wieland is also positive on Iqvia expanding its partnership with Salesforce (CRM) which is "designed to provide technology to make clinical trials more efficient". The analyst keeps his Neutral rating, adding that his new price target is also based on the methodology transitioning to a PE multiple from Enterprise Value / EBITDA one to reflect the company's buyback program.
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