Labcorp price target raised to $320 from $285 at Mizuho

Mizuho analyst Ann Hynes raised the firm’s price target on Labcorp (LH) to $320 from $285 and keeps an Outperform rating on the shares as part of a Q3 earnings preview for the healthcare facilities and managed care group. Healthcare utilization growth trends decelerated sequentially in Q3 despite easier year-over-year compares, which could indicate stabilizing cost trends, a positive for managed care companies, the analyst tells investors in a research note. The firm expects solid results from hospitals despite admissions trends falling sequentially. It is also “cautiously optimistic” that contract research organization trends have bottomed.