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LH

LabCorp

$126.52

0.47 (0.37%)

08:01
01/03/19
01/03
08:01
01/03/19
08:01

LabCorp downgraded to Underperform at BofA/Merrill

As previously reported, BofA/Merrill downgraded LabCorp to Underperform from Neutral and lowered its price target to $120 from $152. Analyst Derik de Bruin said LabCorp is operating in a price deflationary environment due to headwinds from the Protecting Access to Medicare Act and contract openings for lab contracts. de Bruin views the current environment for labs as unlike prior periods and said recent soft volume trends may be a prelude to deeper structural issues not fully understood by the market

LH LabCorp
$126.52

0.47 (0.37%)

01/03/19
BOFA
01/03/19
DOWNGRADE
BOFA
Underperform
LabCorp downgraded to Underperform from Neutral at BofA/Merrill
12/06/18
KEYB
12/06/18
NO CHANGE
Target $165
KEYB
Overweight
LabCorp price target lowered to $165 from $210 at KeyBanc
KeyBanc analyst Donald Hooker lowered his price target for LabCorp to $165 from $210, while reiterating an Overweight rating on the shares. The analyst recommends LabCorp on relative valuation given the strength of its Covance Drug Development segment. However, the situation has deteriorated for its legacy lab business, he contended.
12/03/18
12/03/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Verizon (VZ) downgraded to Neutral from Overweight at JPMorgan with analyst Philip Cusick saying that as much as he likes Verizon's "consistent and improving execution," the combination of a new management team and reporting lines with the stock's 17% year-to-date increase make the risk/reward less compelling than peers AT&T (T) and Comcast (CMCSA). 2. Costco (COST) downgraded to Neutral from Buy at Citi with analyst Kate McShane saying she sees "more headwinds than tailwinds likely in 2019" for Costco. 3. Tractor Supply (TSCO) downgraded to Perform from Outperform at Oppenheimer with analyst Brian Nagel saying he views lower oil prices as a risk for the company. 4. LabCorp (LH) downgraded to Hold from Buy at Craig-Hallum and to Neutral from Buy at BofA/Merrill. 5. Quest Diagnostics (DGX) downgraded to Neutral from Buy at BofA/Merrill with analyst Derik de Bruin citing the cut in FY18 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/03/18
WBLR
12/03/18
NO CHANGE
WBLR
Outperform
LabCorp shares overreacted to guidance reduction, says William Blair
William Blair analyst Matt Larew says LabCorp shares overreacted to Friday's guidance reduction. The company's long-term story remains intact and selloff creates an attractive long-term entry point, Larew tells investors in a research note. He continues to believe LabCorp's efforts to build scale and diversify its contract research organization business by leveraging its broad patient access will lead to higher revenue growth than was the case when Covance was independent. He keeps an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

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PINE

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OTTW

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$13.39

-0.39 (-2.83%)

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MSFT

Microsoft

$149.46

-0.14 (-0.09%)

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SITC

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UAL

United Airlines

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FAST

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SPGI

S&P Global

$264.34

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, INFO

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EFX

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CSGP

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GPS

Gap

$16.22

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LB

L Brands

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WCC

Wesco

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MAN

ManpowerGroup

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HTZ

Hertz

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ROL

Rollins

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HRB

H&R Block

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ARMK

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CSGP

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TRU

TransUnion

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FDS

FactSet

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IT

Gartner

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INFO

IHS Markit

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TGI

Triumph Group

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