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Fly News Breaks for March 7, 2018
IQV
Mar 7, 2018 | 07:17 EDT
As reported earlier, SunTrust analyst Sandy Draper upgraded Iqvia to Buy from Hold and raised his price target to $130 from $110. Draper says his prior focus was "mistakenly" on the organic growth and book-to-bill trends rather than the earnings growth as a function of capital deployment. He believes that earnings growth can continue for another 2-3 years, while the sell-off in the stock price after Q4 results offers an attractive entry opportunity for a company that has high visibility, EBITDA growth, "superb FCF conversion, and a management commitment to capital redeployment".
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