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.
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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
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