Labcorp price target lowered to $230 from $257 at Mizuho

Mizuho analyst Ann Hynes lowered the firm’s price target on Labcorp to $230 from $257 and keeps a Buy rating on the shares. The analyst reduced estimates post the Q3 report. Despite relatively good operational and financial results, the reduced estimates and price target are predicated on the company’s updated earnings growth outlook provided at the recent investor day, the analyst tells investors in a research note. The firm says Labcorp’s growth in the base diagnostic business remains an investment highlight.