Iqvia price target lowered to $260 from $290 at BTIG

BTIG lowered the firm’s price target on Iqvia (IQV) to $260 from $290 and keeps a Buy rating on the shares. The company’s total revenue, adjusted EBITDA, and adjusted EPS all exceeded consensus expectations, but Iqvia lowered 2024 guidance for all metrics, with Inflation Reduction Act and macro headwinds having caused R&DS guidance to be reduced due to 2 “mega” trial delays and a cancellation, the analyst tells investors in a research note.