Argus analyst Jasper Hellweg raised his price target on Iqvia to $160 and kept his Buy rating after its Q4 earnings beat and continued trend of strong bookings, saying the quarter ended with a contracted backlog of over $17.1B vs. $14.8B last year. The analyst is positive on the company's "industry leadership, new product offerings, and record of technological innovation", stating that this combination warrants a higher valuation than the current multiple of 22.3-times his expected forward earnings - a discount to Iqvia's peer group average of 24.5-times.