Morgan Stanley lowered the firm’s price target on Iqvia (IQV) to $265 from $280 and keeps an Overweight rating on the shares. A “modest beat” in Q3 was led by better-than-expected TAS performance, but this is overshadowed by R&DS headwinds over the next twelve months, including a single large cancellation and two “mega trial delays” to 2025, the analyst tells investors in a post-earnings note. The firm views the risk/reward as attractive on the recent pullback, the analyst added.

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