SYNH - Syneos Health falls as JPMorgan downgrades ahead of earnings
- Syneos Health ( NASDAQ: SYNH ) shed ~5% on Monday, marking the biggest intraday loss since November after JPMorgan downgraded the contract research organization citing concerns about the company's Q4 results scheduled for this week.
- Expecting a "challenging" fourth quarter, the analyst Casey Woodring downgraded Syneos ( SYNH ) to Underweight from Neutral and lowered its price target to $28 from $30 per share.
- Due to a heightened competitive backdrop, the analyst needs more clarity about a potential improvement in the company's clinical business in 2023.
- Seeking Alpha contributors had mixed views about the prospects of Syneos ( SYNH ) over the past few months.
- Author Zach Bristow retained his Hold rating on the stock in November, arguing that "nothing's changed after Q3 earnings," while John Moumtsakis noted that "not all of the Q3 results look bad."
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Syneos Health falls as JPMorgan downgrades ahead of earnings