KeyBanc Downgrades Covance (CVD) to Hold

KeyBanc downgraded Covance (NYSE: CVD) from Buy to Hold and removed its price target.

Analyst Donald Hooker said, "We are downgrading Covance Inc. (CVD-NYSE) to HOLD following its agreement to be acquired by LabCorp (LH-NYSE) for $105 per share, or a ~32% premium to its previous closing price of $79.90 (October 31, 2014)."

For an analyst ratings summary and ratings history on Covance click here. For more ratings news on Covance click here.

Shares of Covance closed at $100.80 yesterday.

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