Labcorp shares rise on spinoff, beat-and-raise quarter

Laboratory of America Holdings

28/07/2022 12:32

** Laboratory Corporation of America Holdings' shares  LH.N 
up 3.74% premarket to $258.80
    ** Co to spin off its clinical development business into
separately listed firm  urn:newsml:reuters.com:*:nL4N2Z92UQ
    ** Reports Q2 adjusted EPS of $4.96, higher than estimate of
$4.70, and raises 2022 forecast for it to  $19.00 to $21.25
 urn:newsml:reuters.com:*:nBw2KM6H1a
    ** 15 of 17 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $310
    ** Up to Wednesday's close, stock had fallen ~21% YTD
compared with a 15.6% decline in the S&P 500 index  .SPX 

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))