In the past month, five analysts have increased their 2020 forecasts for this contract research organization.
ICON Public Limited Company (ICLR)
From Dow Theory Forecasts
ICON Public Limited Company (ICLR) is being added to the Focus List. A contract-research organization (CRO), ICON offers testing and research services for drugmakers. The CRO market remains healthy, benefiting from drugmakers expanding their budgets for research and development. Drugmakers are also funneling more of their R&D spending toward CROs.
In January, ICON issued its 2020 outlook, with per-share profits projected to climb 10% to 14% to $7.55 to $7.85, straddling the consensus of $7.71 at the time of the announcement. ICON expects 2020 sales to climb 6% to 10%, versus the consensus growth target of 8%.
ICON is also a Long-Term Buy.
Richard Moroney, CFA, Dow Theory Forecasts, www.dowtheory.com, 800-233-5922, January 20, 2020