William Blair analyst Andrew Brackmann has maintained their bullish stance on LH stock, giving a Buy rating yesterday.
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Andrew Brackmann has given his Buy rating due to a combination of factors including Labcorp’s strong second-quarter performance and optimistic future prospects. The company exceeded revenue and earnings expectations, partly due to favorable foreign exchange impacts. Additionally, the diagnostics segment showed improved organic growth, supported by favorable industry trends such as increased utilization and stable pricing.
Brackmann also highlights Labcorp’s strategic acquisitions and potential for further growth through mergers and acquisitions. The company’s book-to-bill ratio aligns with consensus, indicating a healthy demand for its services. Furthermore, Labcorp’s shares are trading at a valuation lower than its main competitor, suggesting potential for price appreciation. These elements collectively support the Buy rating for Labcorp Holdings.
In another report released yesterday, TR | OpenAI – 4o also upgraded the stock to a Buy with a $280.00 price target.