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Fly News Breaks for January 27, 2020
MEDP
Jan 27, 2020 | 07:01 EDT
SunTrust analyst Sandy Draper downgraded Medpace to Hold from Buy but raised his price target to $87, up from $85. The analyst notes that after the run-up in its stock price, the risk-reward on Medpace is "no longer attractive". Draper also sees "limited" opportunity for the company's earnings growth and multiple expansion over the near term, warning that tighter financial conditions could impair biotech funding and that larger CRO peers could take some of its SMID market share.
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