Labcorp price target lowered to $270 from $275 at Truist

Truist analyst David MacDonald lowered the firm’s price target on Labcorp to $270 from $275 and keeps a Buy rating on the shares. The company’s base business trends remain strong with some Biopharma segment headwinds expected to alleviate throughout the year, though the firm’s price target cut reflects Labcorp’s guidance and updated 2024 reimbursement/PAMA assumptions, the analyst tells investors in a research note.