TD Cowen lowered the firm’s price target on Medpace (MEDP) to $372 from $413 and keeps a Buy rating on the shares. The firm said the company expects cancellations from 1Q through 3Q to carry over and depress book-to-bill from 4Q24 to 2Q25 leaving return to 1.2x unlikely until 2H25 at the earliest.
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