Iqvia price target lowered to $261 from $265 at Truist

Truist lowered the firm’s price target on Iqvia (IQV) to $261 from $265 and keeps a Buy rating on the shares. The company’s Investor Day presentation focused on the long-term resilience of the pharma and drug development industry, as well as Iqvia’s scale, integrated capabilities, AI, and positioning in the CRO industry over the last 8 years and for the future, the analyst tells investors in a research note. Truist adds however that it is updating its model, reducing FY25 revenue view to $15.9B from $16.1B to reflect COVID stepdown and anticipated FX headwinds.