Jefferies Downgrades ICON Public Limited (ICLR) to Hold From Buy

Company Overview - ICON Public Limited Company (NASDAQ:ICLR) is a clinical research organization providing outsourced development services to the biotechnology, pharmaceutical, and medical device industries, operating in various regions including Ireland, Europe, and the US [4] Analyst Downgrade - Jefferies analyst David Windley downgraded ICON from Buy to Hold, reducing the price target from $220 to $175, citing "too many headwinds" for the company [1][2] Financial Concerns - The firm indicated that customer cancellations are expected to approach $1 billion in Q3 and may remain elevated in Q4, reflecting ongoing challenges for ICON [3] Market Position - Despite being considered a "cheap" stock, the potential for another guidance cut raises concerns about the company's future performance [2]