Market Overview

UPDATE: Goldman Sachs Upgrades Covance to Buy on EPS Expectations

Related CVD
Citi Neutral On Lab Sector; Initiates On Quest Diagnostics, Labcorp
KeyBanc Starts Lab Corp Of America At Overweight, But Indebtedness Is A Concern

Goldman Sachs upgraded Covance Inc. (NYSE: CVD) from Neutral to Buy.

Goldman Sachs commented, "We upgrade CVD to Buy on (1) reaccelerating EPS growth with support from visible drivers, (2) potential upside to 2013 consensus (guidance with 4Q), and (3) greater upside optionality on fundamentals relative to Late-Stage peers. With its IT investments better understood, we believe more value could be ascribed to CVD's clinical business. On valuation, we believe the premium on 2013 is warranted given the accelerating earning growth and see shares trading more inline on 2014 estimates."

Covance closed at $62.54 on Friday.

Latest Ratings for CVD

Nov 2014CitigroupMaintainsNeutral
Nov 2014KeyBancDowngradesBuyHold
Nov 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for CVD
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Intraday Update Analyst Ratings


Related Articles (CVD)

View Comments and Join the Discussion!

Partner Center