TD Cowen sees improving demand for contract research firms in Q2 2026

Fortrea Holdings

09/07/2026 11:51

** TD Cowen says improving biotech funding should support stronger demand for contract research organizations, which help drugmakers run preclinical and clinical studies
** Brokerage prefers Charles River Laboratories CRL.N and IQVIA IQV.N into Q2 results, citing potential upside from stronger demand and contract wins
** Says CRL could top 2026 expectations if demand for discovery and safety testing improves, while IQV's Q2 contract-win expectations look achievable; adds "Progress on agentic AI offering is also in focus"
** "While we are bullish on ICLR, we acknowledge expectations are high," TD Cowen says on ICON ICLR.O, following strong Q1 contract wins; adds "We expect similar positive commentary on the market & customer segments"
** Brokerage says Fortrea FTRE.O has an "attractive" setup, with Street expectations for contract wins looking conservative after three stronger quarters and improving demand trends
** "We are cautious on MEDP given weaker demand commentary and implications to '27," TD Cowen says on Medpace MEDP.O

(Reporting by Kunal Das in Bengaluru)
((Kunal.Das2@thomsonreuters.com;))