03:15 AM EDT, 05/02/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target price to $130 from $192, 8.5x our 2026 EPS view, below ICLR's historical forward P/E average, justified by the challenging demand environment ICLR is navigating. We cut our 2025 EPS view to $13.55 from $14.69 and 2026's to $15.21 from $15.81. ICLR reported a challenging Q1, in our view, with sales and earnings declining Y/Y amid on-going headwinds in the clinical development market. The company's Q1 revenue of $2B declined 4.3% Y/Y, while adjusted EPS fell 8.1% to $3.19. ICLR recorded $2.0B of net business wins in Q1, down $400M Q/Q, due to an elevated number of cancellations at $659M. Per ICLR, bookings were lower than anticipated during Q1, which is in-line with our expectations, as we see a number of uncertainties in the operating environment that may have caused delays in capital allocation decisions. We now expect a top-line sales decline of around 2% Y/Y in 2025, compared to 2% Y/Y growth in 2024, as macroeconomic headwinds may continue to impact ICLR's business performance.