Goldman Sachs analyst Patrick Donnelly removed LabCorp from his firm’s Americas Conviction List and lowered his price target for the shares to $180 from $190. He keeps a Buy rating on the stock. The analyst also downgraded his coverage view of Labs from Attractive to Neutral. His “incrementally more cautious stance” reflects his expectation for continued downward pressure to consensus estimates from ongoing pricing pressure, a “muted” volume outlook, and uncertainty regarding ongoing commercial payer dynamics. However, he believes LabCorp is “uniquely positioned to offset Lab industry headwinds.”
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