Mizuho Securities Raises Price Target on Lab Corp. (LH) to $145; Reiterates Neutral

Mizuho Securities reiterated a Neutral rating on Laboratory Corporation of America (NYSE: LH), and raised the price target to $145.00 (from $132.00), after updating estimates. Estimates now include the recent close of the Sequenom acquisition. Mizuho believes that the acquisition could be $0.03 dilutive to adjusted EPS in 2016, but up to $0.04 accretive in 2017.

Analyst Ann Hynes commented, "We are increasing our price target (to $145 from $132), raising our LH adjusted EPS for 2016E (+$0.05) and 2017E (+$0.08), and introducing our 2018E adjusted EPS ($10.32) Our adjusted EPS now includes the recent acquisition of Sequenom. In general, we remain positive on LH operating trends, upside potential from Covance and solid cash flow trends. However, valuation keeps us on the sidelines at this juncture."

For an analyst ratings summary and ratings history on Laboratory Corporation of America click here. For more ratings news on Laboratory Corporation of America click here.

Shares of Laboratory Corporation of America closed at $132.99 yesterday.

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