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INCR

INC Research

$41.15

-16.35 (-28.43%)

08:26
11/10/17
11/10
08:26
11/10/17
08:26

INC Research sees Q4 adjusted EPS 52c-60c, consensus 72c

Sees Q4 net service revenue $738M-$768M, adjusted net service revenue of $750M-$780M, consensus $809M. The company said: "In connection with the Merger, we re-evaluated our existing backlog policy for our Clinical Solutions Segment. As a result of this evaluation, effective during the third quarter of 2017, we changed our policy for calculating and reporting the amounts of our net new business awards and backlog. Under our new policy our Combined Company Clinical Solutions backlog was adjusted from $4.8B to $3.72B as of September 30, 2017. Prior to the adoption of our new policy, our Combined Company Clinical Solutions net new business awards for the three and nine months ended September 30, 2017 were $755M and $2.13B, respectively, resulting in a book-to-bill of 1.4x and 1.3x, respectively. Under our new policy, we adjusted Combined Company Clinical Solutions net new business awards for the three and nine months ended September 30, 2017 to $683.2M and $1.88B, respectively, representing a book-to-bill ratio of 1.3x and 1.2x, respectively."

  • 15

    Nov

INCR INC Research
$41.15

-16.35 (-28.43%)

10/11/17
10/11/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Electronic Arts (EA) initiated with a Buy at SunTrust. 2. FedEx (FDX) was initiated with an Overweight at KeyBanc, while Schneider National (SNDR) was initiated with a Sector Weight. 3. Hostess Brands (TWNK) initiated with a Neutral at JPMorgan. 4. INC Research (INCR) re-initiated with an Outperform at Credit Suisse. 5. First Bank (FRBA) resumed with a Hold at Sandler O'Neill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/11/17
FBCO
10/11/17
INITIATION
Target $68
FBCO
Outperform
INC Research reinitiated with an Outperform at Credit Suisse
Credit Suisse analyst Erin Wilson Wright reinstated coverage of INC Research with an Outperform rating and $68 price target as she views it as well positioned in healthy CRO and CCO industries that are growing 6%-8% annually, fueled by sustained strength in outsourcing demand across R&D and commercial functions in an increasingly onerous regulatory and reimbursement environment for biopharma customers.
10/09/17
10/09/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) upgraded to Outperform from Market Perform at Wells Fargo with analyst Larry Biegelsen saying J&J is poised to reaccelerate its sales growth due to accretion from the Actelion acquisition, a "more measured" than expected impact from biosimilar competition, "solid performance" of key drugs and a pipeline that is "coming to fruition." 2. Morgan Stanley (MS) upgraded to Outperform from Neutral at Credit Suisse with analyst Susan Roth Katzke citing the over 10% total return potential in the shares. 3. Disney (DIS) upgraded to Top Pick from Outperform at RBC Capital with analyst Steven Cahall saying he thinks the company has reached a turning point with ESPN approaching less than 20% of earnings and "non-Media" Disney remaining a global leader in content that is executing well. 4. INC Research (INCR) upgraded to Buy from Hold at Jefferies analyst David Windley saying the recent share pullback provides a "compelling" entry point. 5. British American Tobacco (BTI) upgraded to Buy from Neutral at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/09/17
JEFF
10/09/17
UPGRADE
Target $69
JEFF
Buy
INC Research upgraded to Buy from Hold at Jefferies
Jefferies analyst David Windley upgraded INC Research (INCR) to Buy saying the recent share pullback provides a "compelling" entry point. The analyst sees a more competitive clinical contract research organization post the inVentiv merger. He raised his price target for the shares to $69. Windley also raised his price target for Buy-rated Charles River Laboratories to $130 and for Buy-rated Icon plc (ICLR) to $132. The analyst believes the CRO will accelerate in 2018 to 6.5% from 5.6% in 2017.

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