Labcorp initiated with an In Line at Evercore ISI

Evercore ISI analyst Elizabeth Anderson initiated coverage of Labcorp with an In Line rating and $240 price target. The analyst sees the company’s revenue growth expanding by a sustainable mid-single-digits over time. However, the firm finds the Labcorp’s margin expansion target more challenging. The uncertainty around the margin trajectory and current valuation warrant a neutral rating, the analyst tells investors in a research note.