Halister News

(Bloomberg) -- INCR indicates $56.60-n/a pre-market vs $56.30 close after SunTrust analyst Sandy Draper upgraded to buy and raised the PT to $67 from $48, seeing attractive upside from co.s’ merger with closely held inVentiv Health.

• Cites the successful M&A track record of INCR’s management; the transaction could drive expense and potentially rev. synergies for the combined entity
• Increases 2017 rev. est. to $1.055b from $1.045b, and raises 2018 rev. view to $1.164b from $1.146b
• Expects the upfront investment in headcount without an immediate offset to sales this year to translate into 100 basis points gross margin improvement in 2018
• Shares rose 7% YTD while the S&P 500 Health index gained 10%
• INCR has 6 buys, 3 holds, 0 sells, avg PT $60: Bloomberg
• NOTE: May 10, INC Research Surges on InVentiv Deal; Watch Parexel, Peers
  • May 10, INC Research FY Adjusted EPS View Midpoint Tops Est.
  • May 3, INC Research, MedPace in Tough Strategic Spot, Wells Fargo Says

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Will Daley