SYNH - CFRA upgrades Syneos Health to buy citing strong demand environment for CROs

CFRA has upgraded shares of Syneos Health (SYNH +2.9%) to buy from hold citing a "strong demand environment for CROs with its robust pipeline." The firm has a $108 price target (8% upside). Analyst Sel Hardy writes that Syneos' recent acquisitions of StudyKIK and RxDataScience allow the company to increase its capabilities, adding there will continue to be solid demand for its solutions and services. He adds that the company's Q3 2021 earnings results indicate that the company is continuing to recover from the negative impacts of COVID-19. Hardy is increasing his 2021 EPS estimate by $0.08 to $4.43 and his 2022 EPS estimate by $0.11 to $5.05. Read about a recent strategic relationship between ObsEva (OBSV +3.4%) and Syneos.

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CFRA upgrades Syneos Health to buy citing strong demand environment for CROs