10:40 AM EDT, 04/25/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our $225 target using forward P/E of 14.9x versus the three-year historic average at 15.5x, to reflect execution risk on acquisitions. We raise our 2024 EPS estimate to $15.15 from $14.90 and 2025's to $16.00 from $15.80 based on wider margins. Our revenue forecast is $12.8B in 2024 and $13.3B in 2025. LH posted $3.2B revenue in line with consensus and up +4.6% Y/Y. LH narrowed its 2024 earnings guidance to $14.45-$15.35 and raised the midpoint of guidance by $0.05, driven by Diagnostics, but partly offset by forex adjustments. FCF is expected to be $1.0B-$1.15B in 2024, to be used for acquisitions and return of capital. The Diagnostics Laboratories segment (78% of total revenue) realized 2.6% Y/Y revenue growth due to 1.8% organic growth and from acquisitions, with total volume up 3.4%. Segment adjusted operating income was 18.5% lower due to a reduction of Covid-19 testing. Biopharma Laboratory Services (22%) revenue rose 7.5% due to 5.1% organic growth and foreign currency translation up 2.4%.