Baird downgraded Medpace (MEDP) to Neutral from Outperform with a price target of $349, down from $413. The firm says it is hard to see Medpace getting much multiple expansion with low net new business and revenue growth potentially declining in 2025. The company’s cancellation issues are likely transitory, however, and should see strong reacceleration into 2026, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MEDP:
- Closing Bell Movers: Medpace down 11% after cutting FY24 revenue guide
- Medpace reports Q3 EPS $3.01, consensus $2.78
- Medpace raises FY24 EPS view to $11.71-$12.09 from $11.24-$11.93
- Options Volatility and Implied Earnings Moves Today, October 21, 2024
- Medpace Holdings Inc (MEDP) Q3 Earnings Cheat Sheet