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UPDATE: Canaccord Genuity Lowers PT to $97 on Laboratory Corporation of America Holdings

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Canaccord Genuity reiterated its Buy rating on Laboratory Corporation of America Holdings (NYSE: LH) and reduced its price target from $100 to $97.

Canaccord Genuity noted, "Although pressures remain, we reiterate our BUY rating as we think LH is the best-of-breed, low-cost lab provider with strong cash flow. We believe LH is growing faster than its competitors, and our survey checks suggest LH should benefit from an uptick in lab utilization next year. … We lower our price target to $97 (from $100), and assume that LH trades at ~13x our revised 2013 adj. EPS estimate of $7.43 (previously $7.50). LH has historically traded at ~14x EPS."

Laboratory Corporation of America Holdings closed at $90.21 on Wednesday.

Latest Ratings for LH

DateFirmActionFromTo
Nov 2014Deutsche BankDowngradesBuyHold
Nov 2014Deutsche BankMaintainsBuy
Oct 2014JP MorganMaintainsNeutral

View More Analyst Ratings for LH
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Intraday Update Analyst Ratings

 

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