Labcorp price target raised to $270 from $260 at Morgan Stanley

Morgan Stanley analyst Erin Wright raised the firm’s price target on Labcorp (LH) to $270 from $260 and keeps an Overweight rating on the shares. Diversified Managed Care “woefully underperformed” in 2024 and while uncertainty is pressuring sentiment, the firm sees “opportunities in a friendlier policy backdrop,” the analyst tells investors in a 2025 outlook note on the healthcare services group. Calling 2025 the “Year of the Labs,” the firm says it expects volume should remain strong via healthy utilization trends continuing into 2025.