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

Truist analyst David MacDonald raised the firm’s price target on Labcorp to $285 from $275 and keeps a Buy rating on the shares after its Q4 earnings beat. The operating environment continues to carry some challenges and the guidance was below the firm’s expectations, but the 2023 expected base business trends are encouraging, the analyst tells investors in a research note. The firm further cites the ongoing Launchpad benefits, along with potentially cooling labor and inflation pressure supporting Labcorp.