Raymond James Downgrades Covance (CVD) to Market Perform

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... More

Credit Suisse Downgrades Covance (CVD) to Neutral

Credit Suisse downgraded Covance (NYSE: CVD) from Outperform to Neutral with a price target of $103.00 (from $97.00).

Analyst Jeffrey Bailin said, "Yesterday morning, LH announced a definitive agreement to acquire CVD for a 32% premium to Friday's close (or
$105.12). The deal consideration is... More

UBS Downgrades Covance (CVD) to Neutral

UBS downgraded Covance (NYSE: CVD) from Buy to Neutral.

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 $100.57 yesterday.

William Blair Downgrades Covance (CVD) to Market Perform

William Blair downgraded Covance (NYSE: CVD) from Outperform to Market Perform.

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 $100.57 yesterday.

LabCorp (LH) to Acquire Covance (CVD) in $6.1B Cash and Stock Deal

Laboratory Corporation of America Holdings (NYSE: LH) entered into a definitive agreement to acquire Covance Inc. (NYSE: CVD) for $105.12 per Covance share in cash and stock, or an equity value of approximately $6.1 billion and an enterprise value of approximately $5.6 billion.

The combination will create the worlds leading healthcare diagnostics company, capitalizing on LabCorps industry leadership in medical testing and Covances leadership in contract research.

Under the terms of the agreement, which has been approved by the Boards of Directors of both companies, Covance shareholders will... More