Analyst Note| Rachel Elfman |
IQVIA reported strong second-quarter results highlighted by revenue of $3.4 billion, representing more than a 36% increase year over year. The company is continuing to recover well from pandemic-related challenges, and management has increased its guidance for 2021. We’ve raised our fair value estimate to $231 per share from $215 due to stronger revenue growth as IQVIA rebounds from the pandemic, combined with the time value of money since our last update. We’re maintaining our narrow moat and stable moat trend ratings.