As reported earlier, SunTrust analyst Sandy Draper upgraded Medpace to Buy from Hold and kept his $63 price target, citing its more attractive valuation of 11% discount relative to clinical research organization group vs. 6% premium in his last review. The analyst notes that he remains positive on the company’s “high exposure to small and medium biotech sponsors” and believes that its multiple is justified even after a “beat and raise” Q3 result.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.