Shares of Icon PLC, a global provider of outsourced drug and device development and commercialization services, surged 5.98% in Thursday's pre-market trading session. The stock's rally comes after two analysts reiterated their Buy ratings on the company, citing positive outlooks.
Truist Financial analyst Jailendra Singh maintained a Buy rating on Icon, highlighting the company's strong financial performance and growth prospects. Singh expressed optimism about Icon's ability to capitalize on the increasing demand for outsourced clinical research services.
Additionally, TD Cowen analyst Charles Rhyee maintained a Buy rating on Icon, with a price target of $254.00. Rhyee's report emphasized Icon's diversified service offerings and robust pipeline as key drivers for future growth.
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