Labcorp Holdings Inc. provides laboratory services through its Diagnostics Laboratories and Biopharma Laboratory Services segments. Its offerings include routine tests such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, PAP tests, hemoglobin A1C, PSA, tests for sexually transmitted diseases, vitamin D testing, microbiology cultures and procedures, and alcohol and other substance abuse tests. It also provides specialty testing services, including gene-based and esoteric testing, advanced tests targeting specific diseases, and services related to anatomic pathology/oncology, cardiovascular disease, coagulation, diagnostic genetics, endocrinology, infectious disease, women's health, pharmacogenetics, parentage and donor testing, occupational testing, medical drug monitoring, chronic disease programs, and kidney stone prevention tests. Additionally, it offers health and wellness services to employers and managed care organizations, digital pathology solutions, provider and payer digital platforms, online and mobile applications for patients, and a Generative AI enabled Test Selection tool. It serves clients, third parties, Medicare/Medicaid, patients, pharmaceutical, biotechnology, medical device, diagnostic companies, and CROs. It has a strategic collaboration with the Children's Hospital of Philadelphia to accelerate the discovery, development, and availability of pediatric diagnostics; a strategic alliance with the National Association of Community Health Centers to support current and emerging clinical leaders through the NACHC Leadership Exchange for Chief Medical Officers; and Alliance for Clinical Trials in Oncology to advance national
New Alzheimer's Test and Growth Plan Meet Medicare Fee Cut Threat
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First FDA-cleared single-biomarker Alzheimer's blood test Labcorp launched the first FDA-cleared single-biomarker Alzheimer's blood test, a simple blood draw that could replace costly PET scans. It also allied with the largest US primary care network to drive routine orders, supporting future test volume and revenue.
New product and partnership that can lift future demand and revenue.
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Investor Day reaffirms 2026 guidance and sets 5%-8% growth target Labcorp reaffirmed 2026 adjusted EPS guidance above Wall Street estimates and set long-term targets of 5%-8% annual revenue growth and 8.5%-11.5% EPS growth through 2029. The plan includes margin expansion and AI/robotics, giving investors a clearer growth path.
Directly supports earnings expectations and long-term valuation.
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CMS proposes up to 15% cut in Medicare lab fees CMS proposed cutting Medicare lab payments by up to 15% starting January 2027, saying Medicare pays 16% more than private insurers. Labcorp and Quest shares fell sharply. If finalized, this would lower reimbursement for routine tests and pressure revenue and margins.
A major regulatory threat that directly reduces future payments.
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Labcorp says CMS cuts won't change 2026-2029 outlook Labcorp reaffirmed its 2026-2029 growth targets despite the proposed Medicare cuts, saying it already accounted for continued reimbursement pressure. It warned the cuts could hurt patient access and backs the RESULTS Act. The stock still fell about 3%, showing investors remain cautious.
Company response to the cut is key to whether the negative is already priced in.
Q3 2026
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Labcorp launches new tests, raises guidance, but Medicare fee cut proposal weighs
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New product launches and Medicare coverage Labcorp launched ColoSense, the first FDA-approved at-home RNA colorectal cancer test, gained Medicare coverage for NASHnext, and introduced the first FDA-cleared Alzheimer's blood test. These expand its testing menu and open new revenue streams.
These launches are new in Q3 and show innovation driving growth.
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Strong financial performance and raised guidance Labcorp beat Q2 estimates, raised its 2026 guidance, completed a large buyback, and set long-term revenue growth targets of 5%–8%. This signals confidence in its business and returns cash to shareholders.
These are new financial updates that positively influenced investor sentiment.
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Proposed Medicare lab fee cuts CMS proposed cutting Medicare lab fees by up to 15% starting January 2027, citing overpayment versus private insurers. This sharply pressured Labcorp and Quest shares, raising concerns about future margins and revenue.
This is a new regulatory threat that negatively impacted the stock.
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Reaffirmed outlook despite reimbursement pressure Labcorp reaffirmed its 2026–2029 outlook, saying it already assumed reimbursement pressure. However, the stock still fell about 3% in Q3, reflecting investor caution over potential margin and revenue risks.
This shows the counterweight: management confidence versus market skepticism.
News & notes movingLH
United States
Biotech & Genomic Medicine▲
Labcorp Expands Specialty Testing With Acquisitions as 2026 EPS Estimate Rises to $18.32
Labcorp Holdings is expanding in high-growth specialty testing markets while broadening its consumer testing business, with acquisitions, health-system relationships and new contracts boosting its reach. In the second quarter of 2026, the company completed acquisitions of select Parkview Health outreach laboratory services and Tribal Diagnostics, invested $225.7 million in acquisitions, and secured another Department of Defense contract to provide testing across military hospitals worldwide; net acquisitions added 1.2% to enterprise revenue growth and 1.9% to Diagnostics growth during the quarter. Enterprise adjusted operating margin expanded 70 basis points year over year to 15.8% in the second quarter of 2026, with Diagnostics margin up 50 basis points to 18% and BLS margin up 130 basis points to 17%. Management estimated that Affordable Care Act-related changes reduced second-quarter 2026 diagnostic volume by 20-30 basis points and continues to assume a 30-basis-point full-year impact, though the affected payer group represents less than 4-5% of diagnostic volume. Over the past 30 days, the Zacks Consensus Estimate for Labcorp's 2026 earnings per share has edged up 0.2% to $18.32, while the 2026 revenue consensus stands at $14.75 billion, implying 5.7% growth over 2025.
Labcorp Reaffirms 2026-2029 Outlook Despite CMS Lab Payment Cuts
Labcorp Holdings said the CMS plan to cut Medicare payment rates for laboratory services by 15% starting in 2026, with further reductions through 2029, will not impact its 2026-2029 long-term outlook. The company reaffirmed that over that period it expects compound annual revenue growth between 5% and 8%, adjusted operating margin expansion between 75 and 150 basis points by the end of 2029, compound annual adjusted EPS growth between 8.5% and 11.5%, and compound annual free cash flow growth in line with adjusted earnings growth. Labcorp said it had considered the anticipated continuation of Protecting Access to Medicare Act-related reimbursement pressure in developing the guidance, which was released at its Investor Day on Sept. 10. The company also argued the cuts will negatively impact patient access to lab services and said it continues to support the bipartisan Reforming and Enhancing Sustainable Updates to Laboratory Testing Services, or RESULTS, Act. Labcorp closed Tuesday down about 3%, while rival Quest Diagnostics was off about 4%.
LH · Regulation · Neutral CMS 15% Medicare lab payment cuts starting 2026 are a regulatory headwind, but Labcorp reaffirmed its 2026-2029 outlook and says the cuts won't impact guidance.
DGX · Regulation · Negative Named as rival that fell ~4% amid CMS Medicare lab payment cuts, which pressure lab-services reimbursement.
CMS Proposes Up to 15% Lab Fee Cuts; Quest, Labcorp Slide Premarket
The Centers for Medicare & Medicaid Services released preliminary reimbursement proposals that could cut laboratory fee payments by as much as 15% starting Jan. 1, 2027, sending Quest Diagnostics down 6.9% and Labcorp down 4.5% in premarket trading. CMS said the proposed changes, based on data from more than 6,400 laboratories, were intended to realign Medicare payments with private-insurer rates, arguing Medicare currently pays laboratories roughly 16% more than private insurers, and estimated the changes could save taxpayers about $1 billion annually. The proposal followed Quest shares reaching a fresh 52-week high of $248.84, and a Truist Securities note maintaining a Hold rating while raising its price target to $260 from $250 did little to offset concerns about lower reimbursement rates for routine clinical testing. Elsewhere in premarket trading, On Holding jumped 6.4% after the Swiss sportswear company said its board authorized the repurchase of up to $1 billion of its Class A ordinary shares through the end of 2029, alongside new long-term growth targets at its investor day. Vicor surged nearly 9.9% after raising its third-quarter 2026 revenue outlook to sequential growth of more than 20% from roughly 10%, citing royalties from its expanding non-exclusive Vertical Power Delivery licensing program, while Endava fell 12% after placing CFO Mark Thurston on administrative leave pending an accounting investigation and appointing Conor McShane of AlixPartners as interim CFO.
DGX · Regulation · Negative CMS proposed cutting Medicare lab fee payments by up to 15% starting 2027, directly pressuring Quest's reimbursement rates.
LH · Regulation · Negative CMS's proposed up-to-15% cut in Medicare laboratory fee payments would reduce Labcorp's reimbursement for routine clinical testing.
ONON · Capital · Positive On Holding's board authorized a $1 billion share buyback through 2029 alongside new long-term growth targets.
VICR · Capital · Positive Vicor raised its Q3 2026 revenue outlook to over 20% sequential growth, citing royalties from its expanding Vertical Power Delivery licensing program.
Alibaba Cloud Targets 20 Gigawatts of Data Centers by 2032
Alibaba CEO Eddie Wu said at the company's Apsara Conference that Alibaba Cloud plans to operate more than 20 gigawatts of data centers globally by 2032, according to FactSet, and he also launched the Zhenwu V900 chip. Quest Diagnostics and Labcorp Holdings each dropped more than 5% after the Centers for Medicare & Medicaid Services released a report showing Medicare has been paying 16% more for laboratory services than private payors, with the federal entity saying it will align most Medicare payments with private sector rates. Vicor rallied 9% after the power electronics company issued third quarter guidance forecasting sequential revenue growth of more than 20% quarter over quarter, versus prior guidance of nearly 10%. On Holding jumped more than 6% after the Swiss sportswear company set new midterm financial targets at its Investor Day, including absolute net sales reaching at least CHF5.6 billion by 2029 and gross profit margin of 65% throughout the period, and said it will repurchase up to an aggregate of $1 billion in Class A ordinary shares by December 2029 while reiterating its full year 2026 outlook. GameStop gained 3.5% after CEO Ryan Cohen disclosed a purchase of 1.2 million shares.
9988.HK · Capital · Positive Alibaba Cloud plans to operate over 20 GW of data centers globally by 2032 and launched the Zhenwu V900 chip, signaling major infrastructure investment.
DGX · Regulation · Negative CMS report says Medicare overpaid labs 16% and will align payments with private rates, pressuring Quest's lab reimbursement.
GME · Capital · Positive CEO Ryan Cohen disclosed buying 1.2 million GameStop shares.
LH · Regulation · Negative CMS plans to align Medicare lab payments with lower private-sector rates, hitting Labcorp's reimbursement.
ONON · Capital · Positive On Holding set midterm targets (CHF5.6B sales, 65% margin) and authorized up to $1B in buybacks.
VICR · Capital · Positive Vicor raised Q3 guidance to over 20% sequential revenue growth versus prior ~10%.
Labcorp Holdings presented a long-term growth strategy and financial forecast at its 2026 Investor Day, reaffirming full-year 2026 adjusted earnings per share guidance of $18.10 to $18.55, above the Wall Street estimate of $18.01, and 2026 sales of $14.710 billion to $14.827 billion, edging past the $14.707 billion estimate. That 2026 revenue guidance comprises Diagnostics Laboratories sales of $11.45 billion to $11.53 billion and Biopharma Laboratory Services sales of $3.269 billion to $3.30 billion. Looking to 2029, management targets a compound annual revenue growth rate of 5% to 8% and compound annual adjusted EPS growth of 8.5% to 11.5%, with adjusted operating margin expanding by 75 to 150 basis points by the end of 2029 and compound annual free cash flow growth mirroring adjusted earnings growth. The company set four strategic priorities: leading specialty testing in oncology, neurology, autoimmune diseases and women's health; becoming a preferred partner for health systems and pharmaceutical companies; advancing personalized health solutions; and integrating artificial intelligence and robotics into its operations.
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
LH · Capital · Positive Labcorp reaffirmed 2026 adjusted EPS guidance above Wall Street estimates and set long-term EPS and margin growth targets at its Investor Day.
FDA Clears Roche and Lilly's Alzheimer's Blood Test
The FDA has cleared Elecsys pTau217, a blood test developed by Roche Holding AG and Eli Lilly and Company, to help identify whether people aged 55 and older with cognitive decline are likely or unlikely to have brain changes associated with Alzheimer's disease. The test will be available through Roche's installed base of more than 4,500 laboratory analyzers in the United States, and Labcorp and Quest Diagnostics also plan to offer it through their networks. This clearance follows European approval in May, marking regulatory progress in two major markets. However, the test is not intended as a standalone diagnostic and must be interpreted with other clinical information, and its price has not been disclosed. The test's potential lies in making Alzheimer's assessment more accessible compared to traditional methods like PET scans or cerebrospinal fluid testing, which are expensive and invasive.
Labcorp Unveils First FDA-Cleared Single Biomarker Alzheimer's Blood Test
Labcorp Holdings has introduced the Elecsys pTau-217 blood test, the first FDA-cleared single biomarker test for Alzheimer's disease, which expands access through primary and specialty care with a minimally invasive blood draw. The company also announced a long-term alliance with the National Association of Community Health Centers to support clinical leadership and community health outcomes across the largest US primary care network. These moves highlight how Alzheimer's diagnostics and broader healthcare delivery are changing quickly, and they align with Labcorp's strategy to use its scale and assay portfolio to drive routine test orders. The key proof point will be whether ordering volumes for pTau-217 and related tests build meaningfully within primary care and the NACHC network through 2027 without compressing pricing or margins.
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
Aging Population › Chronic-Disease Pharma Franchises ▲Demand
LH · Technology · Positive Labcorp launched the first FDA-cleared single biomarker Alzheimer's blood test (Elecsys pTau-217), a new product/R&D development.
LH · Demand · Positive Long-term alliance with NACHC to drive routine test orders across the largest US primary care network.
Labcorp Raises Guidance, Completes Buyback, and Expands Oncology Testing
Labcorp reported higher second-quarter and year-to-date earnings, raised its 2026 revenue growth guidance, completed a large share repurchase program, and made Roche's FDA-approved VENTANA PTEN (SP218) RxDx Assay available nationwide to guide prostate cancer treatment decisions. The company also recently received FDA approval for its PGDx elio tissue complete CDx for advanced melanoma. These moves reinforce Labcorp's role as a major companion diagnostics provider and signal management confidence through upgraded guidance and sustained buybacks. The PTEN assay rollout and upgraded 2026 guidance support a near-term catalyst around mix shift into precision oncology, though risks such as potential PAMA-related reimbursement cuts and pricing pressure in core lab services remain.
Labcorp Launches First FDA-Approved PTEN Companion Diagnostic for Prostate Cancer
Labcorp announced the nationwide availability of Roche's VENTANA PTEN (SP218) RxDx Assay, the first FDA-approved immunohistochemistry companion diagnostic to detect PTEN protein loss in prostate adenocarcinoma tumors. The assay helps identify patients who may be eligible for treatment with AstraZeneca's TRUQAP in combination with abiraterone acetate and prednisone. PTEN loss is associated with more aggressive disease and reduced benefit from standard therapies, and until now no approved treatments specifically targeted this biology. Labcorp participated in Roche's early access program to ensure Day 1 laboratory readiness, and the test is now available through Labcorp's national network, complementing its comprehensive oncology testing portfolio.
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
LH · Demand · Positive Labcorp launches first FDA-approved PTEN companion diagnostic, expanding its oncology testing portfolio and potentially increasing demand for its services.
ROP.SW · Demand · Positive Same as Roche Holding AG Participation: assay availability through Labcorp may boost sales.
AZN.LSE · Demand · Positive The companion diagnostic helps identify patients eligible for AstraZeneca's TRUQAP combination therapy, potentially expanding its market.
Labcorp raises annual profit forecast on strong testing demand
Labcorp raised its annual profit forecast and reported better-than-expected second-quarter results, driven by steady demand for diagnostic testing and growth in its drug-development services business. The company lifted its 2026 adjusted earnings forecast to a range of $18.10 to $18.55 per share, up from $17.70 to $18.35 previously, with the midpoint of $18.33 exceeding analysts' estimate of $18.01. Annual revenue guidance was also raised to between $14.71 billion and $14.83 billion, compared with the prior range of $14.65 billion to $14.80 billion. Overall second-quarter revenue rose 5.8% to $3.73 billion, above estimates of $3.71 billion, and adjusted earnings per share of $4.99 topped expectations of $4.78. Revenue at the Diagnostics Laboratories segment grew 5.5% to $2.90 billion, slightly below the $2.91 billion estimate, while Biopharma Laboratory Services revenue rose 6.5% to $836.2 million, exceeding estimates of $797.3 million.
Labcorp Holdings Draws Fresh Earnings Optimism, Seen 4.3% Undervalued
Labcorp Holdings is attracting fresh earnings optimism ahead of its June 2026 quarter, with analysts raising revenue and year-over-year earnings growth expectations. The stock has gained 11.9% over the past month and 17.9% year to date, closing recently at $296.77. A widely followed narrative pegs fair value at $310.12, implying the shares are 4.3% undervalued, while a discounted cash flow model suggests a much higher intrinsic value of $531.53. However, the current price-to-earnings ratio of 25.8 times sits slightly above the US healthcare industry average of 25.5 times and a modeled fair ratio of 25 times, raising questions about whether sentiment will align with cash flow estimates or if the multiple will contract. Key drivers include AI-powered operational efficiencies from platforms like eClaim Assist and Labcorp Diagnostic Assistant, as well as the Invitae integration, which is expected to be slightly accretive to full-year earnings.
Labcorp Set to Report Q2 Earnings With Revenue Expected to Rise 5.4%
Labcorp is scheduled to report its second-quarter 2026 results on July 30 before the market opens. The Zacks Consensus Estimate for revenues is $3.72 billion, indicating a 5.4% increase from the year-ago period, while the consensus earnings per share estimate of $4.79 suggests a 10.1% improvement. The company has an Earnings ESP of +0.71% and a Zacks Rank of 2, which according to Zacks Investment Research signals a higher likelihood of an earnings beat. Key drivers for the quarter include strong organic growth in Diagnostics Laboratories, supported by health system partnerships and acquisitions, as well as an expanding specialty testing portfolio in areas such as oncology and neurology.
Labcorp Holdings declared a quarterly dividend of $0.72 per share, in line with the previous payout. The dividend is payable on September 11 to shareholders of record as of August 28, with the ex-dividend date also on August 28. The forward yield is 1.04%. The company has now announced a dividend of $0.72 for thirteen consecutive quarters.
Medicare couvrira et remboursera le test NASHnext® de GENFIT aux États-Unis
GENFIT annonce que Medicare couvrira et remboursera NASHnext®, un test sanguin non invasif développé par Labcorp à partir de sa technologie NIS4®, à compter du 10 août 2026. Le remboursement s'élèvera à environ 252 dollars par test dans le cadre du barème des frais de laboratoire clinique. Cette décision vise à faciliter l'adoption à grande échelle du test, qui identifie les patients atteints de MASH à risque, notamment ceux présentant un prédiabète, un diabète de type 2, une obésité ou une dyslipidémie. GENFIT prévoit que cette couverture ouvre la voie à une future prise en charge par les assureurs privés et génère une deuxième source de revenus récurrents, avec plus de détails attendus à l'automne.
Labcorp Launches FDA-Approved ColoSense At-Home Colorectal Cancer Test with Medicare Coverage
Labcorp announced the nationwide availability of ColoSense, the first FDA-approved RNA-based at-home colorectal cancer screening test, now covered for eligible Medicare and Medicare Advantage patients. The test detects RNA biomarkers for both cancer and advanced adenomas and features a simplified at-home collection process. ColoSense is aligned with major U.S. screening guidelines and adds a differentiated option to Labcorp's colorectal screening portfolio. The launch supports the company's diagnostics narrative and has contributed to recent share price strength, though the test is unlikely to significantly impact near-term financials on its own.
Quest Diagnostics wins nationwide Haystack MRD access and expands into psychiatry
Quest Diagnostics received New York State approval for its Haystack MRD liquid biopsy test, enabling nationwide use for detecting residual or recurrent cancer. The approval follows published research indicating the test's high sensitivity for minimal residual disease monitoring. Quest Diagnostics also entered a national partnership with Attunio Health to support an AI-powered precision psychiatry platform, providing scalable laboratory infrastructure for mental health diagnostics across the United States. The Haystack MRD test now has regulatory clearance across all 50 states and clinical backing from major centers such as Memorial Sloan Kettering and City of Hope, positioning Quest to compete more directly with other cancer monitoring players like Guardant Health and Exact Sciences. On the mental health side, serving as the lab backbone for an AI-powered precision psychiatry platform gives Quest a role in turning biological markers into routine psychiatric decision support, an area where competitors such as Labcorp and Mayo Clinic Laboratories are also active.
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
Biotech & Genomic Medicine › Tools, Diagnostics & CDMO ▲Demand
DGX · Regulation · Positive New York State approval enables nationwide use of Haystack MRD test.
DGX · Demand · Positive Partnership with Attunio Health for AI-powered precision psychiatry platform expands into mental health diagnostics.
Attunio Health · Demand · Positive National partnership with Quest provides scalable lab infrastructure for Attunio's AI precision psychiatry platform.
GH · Competition · Negative Quest's Haystack MRD approval positions it to compete more directly with Guardant Health in cancer monitoring.
LH · Competition · Negative Quest's entry into mental health diagnostics competes with Labcorp's active presence in that area.
StockStory flags Veralto, Toll Brothers, and Labcorp as mid-cap stocks to avoid
StockStory highlights three mid-cap stocks it recommends investors avoid: Veralto, Toll Brothers, and Labcorp. Veralto, a water analytics firm spun off from Danaher, posted annual revenue growth of just 4.4% over four years and faces shaky demand with projected sales growth of 6.5%. Toll Brothers, the luxury homebuilder, saw its backlog decline by an average of 9.1% over two years and expects a 2.9% sales drop, while earnings per share contracted 5.7% annually. Labcorp, the laboratory services giant, experienced a 1.6% annual sales decline over five years and an 11.1% annual drop in earnings per share, with organic revenue underperforming.
LH · Demand · Negative Labcorp experienced a 1.6% annual sales decline over five years and an 11.1% annual drop in earnings per share, with organic revenue underperforming
TOL · Demand · Negative Toll Brothers saw its backlog decline by an average of 9.1% over two years and expects a 2.9% sales drop
VLTO · Demand · Negative Veralto posted annual revenue growth of just 4.4% over four years and faces shaky demand with projected sales growth of 6.5%
Labcorp posts weakest Q1 among testing and diagnostics peers
Labcorp reported first-quarter revenues of $3.54 billion, up 5.8% year on year, but delivered the weakest performance against analyst estimates, the slowest revenue growth, and the weakest full-year guidance update among five tracked testing and diagnostics services stocks. The group as a whole beat consensus revenue estimates by 3.2%, with Guardant Health leading on a 48.3% revenue surge to $301.7 million and the biggest guidance raise. RadNet grew revenues 22.1% to $575.6 million but missed EPS estimates significantly, while NeoGenomics and Quest Diagnostics also exceeded revenue expectations. Share prices across the group have risen 20.3% on average since reporting.
Labcorp's Specialty Testing and AI Focus Drive Growth Prospects
Labcorp Holdings is poised for growth driven by expansion in specialty testing areas like oncology and neurology, strategic acquisitions, and AI-powered operational efficiency. In the first quarter of 2026, neurology testing delivered double-digit growth, while oncology benefited from new liquid biopsy tests and wider availability of minimal residual disease solutions. The company's launchpad initiatives target $100 to $125 million in annual savings, and it is collaborating with PathAI, Amazon Web Services, and Datavant on AI platforms. However, macroeconomic pressures and currency headwinds pose risks, with cost of revenues rising 5.3% year over year in the first quarter. The Zacks Consensus Estimate for 2026 earnings per share is $18.00, and revenues are pegged at $14.71 billion, implying 5.4% growth.
Labcorp Holdings Stock Underperforms the Nasdaq Despite Strong Q1 Results
Labcorp Holdings Inc. has underperformed the Nasdaq Composite over multiple time frames, even after reporting first-quarter results that beat expectations. The company's shares have declined 4.1% over the past three months, while the Nasdaq gained 15.8% in the same period. On a year-to-date basis, Labcorp rose 3.5% versus the Nasdaq's 12% gain, and over the past 52 weeks it climbed marginally compared to the Nasdaq's 33.3% return. The stock has been trading below its 50-day and 200-day moving averages since early March. In its first quarter, Labcorp posted adjusted earnings per share of $4.25 on revenue of $3.54 billion, surpassing analyst forecasts of $4.09 and $3.50 billion respectively, and it guided full-year adjusted EPS in the range of $17.70 to $18.35. Wall Street analysts remain bullish with a consensus Strong Buy rating and a mean price target of $311.12, implying a potential upside of 19.9% from current levels.