ICON plc (ICLR) Tops Q1 EPS by 1c
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Jefferies Cuts ICON plc (ICLR) PT, Estimates But Not Rating
April 27, 2016 9:32 AM EDTJefferies analyst, David Windley, cut revenue and EPS projections for ICON plc (NASDAQ: ICLR) '16 and '17 due to slowing backlog conversion and weak bookings . Increased clinical development complexity is a consistent theme for ICLR and the group, lowering revenue visibility. However, repeated margin outperformance expectation for a PFE renewal justify patience and he maintains the Buy rating. PT drops to $80 from $85.
1) Slower Burn Makes... More
