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Fly News Breaks for January 27, 2020
Jan 27, 2020 | 06:56 EDT
SunTrust analyst Sandy Draper downgraded Icon to Hold from Buy but raised his price target to $182, up from $170. The analyst notes that the company should continue to execute well and points to its 30% rise over the past 53-week period, but he also sees "limited opportunity for material acceleration" in earnings as well as multiple expansion. Draper adds that Icon's cost controls will generate 50bps of annual margin expansion and expects the company to grow its organic revenue by 9% in 2020.