UPDATE: Deutsche Bank Upgrades Laboratory Corp. of America on Room for Upside Surprise

In a report published Monday, Deutsche Bank analyst Darren Lehrich upgraded the rating on

from Hold to Buy, and raised the price target from $95.00 to $98.00. In the report, Deutsche Bank noted, “Everything about LH's 2014 guidance feels kitchen-sinked, thus leaving room for upside surprise if even the slightest things go right. Throw in the possibility of a major cost reduction plan (hinted to on Q4 CC), and we believe LH's margin structure heading into well-anticipated 2015+ Medicare fee schedule cuts could realistically leave LH better positioned vs. expectations.” Laboratory Corp. of America closed on Friday at $89.15.