Mizuho downgrades Syneos Health to 'neutral'

Syneos Health

14/12/2022 16:09

** Mizuho Securities downgrades shares of contract research
firm Syneos Health Inc  SYNH.O  to "neutral" from "buy" and cuts
PT to $38 from $66 
    ** Brokerage says it sees low earnings visibility given the
competitive environment and staffing challenges 
    ** SYNH in November missed Q3 profit estimates on lower
bookings
    ** Mizuho cuts 2023 adjusted profit estimates by 25% and
2023 revenue estimates by 8%
    ** Four of 13 brokerages rate the stock "buy" or higher, and
9 "hold"; their median PT is $33.25 - Refinitiv data
    ** Shares fall marginally to $35.41; including session
moves, SYNH down ~65.9% YTD   
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))