Argus upgrades Labcorp to Buy on stronger top-line growth, margin expansion

As previously reported, Argus upgraded Labcorp to Buy from Hold with a $250 price target. The firm cites the company’s expectations for stronger top-line growth in 2024 and margin expansion, driven by demand for Base Business testing and for central lab services to support biopharma clinical trials, the analyst tells investors in a research note. While Labcorp continues to expand its testing offerings in oncology, women’s health, autoimmune diseases and neurology, the company has also been expanding through acquisitions and partnerships with health systems and regional local labs, the firm added.