Labcorp price target lowered to $275 from $285 at Truist

Truist analyst David MacDonald lowered the firm’s price target on Labcorp to $275 from $285 but keeps a Buy rating on the shares. The analyst cites the company’s Q1 earnings miss but also notes that the COVID pandemic further highlighted the key role clinical labs play in clinical decision making. Truist contends that Labcorp boasts significant scale, a diverse service offering and is uniquely positioned in the areas of personalized medicine and potential risk-based reimbursement systems.