Core Viewpoint - ICON Public Limited Company (NASDAQ:ICLR) is considered a cheap healthcare stock with potential for investment as it heads into 2026, maintaining a 'Market Perform' rating and a price target of $175 by BMO Capital [1][4]. Group 1: Company Performance and Outlook - The company is experiencing elevated cancellation rates, which are expected to persist in the upcoming quarters, although it is believed to have passed through its worst period [4]. - ICON is focusing on increasing investments in automation and agentic AI, which may enhance its operational efficiency [2]. - The company has a one-year median price target of $213.50, indicating an upside potential of nearly 15% from its current levels [5]. Group 2: Analyst Insights - BMO Capital initiated coverage on ICON on November 13, maintaining a 'Market Perform' rating and a price target of $175, reflecting a cautious but optimistic outlook [4]. - Analysts covering the stock generally have a 'Buy' or equivalent rating, suggesting a positive sentiment towards ICON's future performance [5].

Core Insights - Brown Capital Management's second quarter 2025 investor letter highlights a significant rally in international stocks, particularly following a global stock market sell-off at the beginning of the quarter due to Liberation Day on April 2, and a subsequent 90-day tariff reprieve [1] Group 1: Market Performance - The MSCI ACWI ex US index increased by 12.30% and the MSCI EAFE index rose by 12.07% during the second quarter of 2025 [1] - The Brown Capital Management International All-Company Strategy outperformed both international equity indexes in this quarter [1] Group 2: Company Focus - ICON Public Limited Company - ICON Public Limited Company (NASDAQ:ICLR) is a global provider of outsourced development and commercialization services to pharmaceutical, biotechnology, and medical-device companies [3] - The stock of ICON Public Limited Company experienced a one-month return of -8.66% and a 52-week loss of 43.09%, closing at $162.53 per share on September 25, 2025, with a market capitalization of $12.64 billion [2][3] - ICON has been a part of the International All Company strategy for over a decade, providing services that include management of clinical trials, bioanalytical and clinical lab services, data analytics, regulatory consulting, and marketing strategies [3]