*Jefferies raises price target to $100 from $90; rating hold. Reuters Station users, click. 1568. Reuters Station users, click. 4899.
Feb 8- Diagnostics testing company Laboratory Corp of America Holdings reported a drop in fourth-quarter profit on Friday and said bad weather, particularly Superstorm Sandy, was partly to blame. LabCorp said it experienced promising volume growth during the quarter that lead it to forecast a 2 to 3 percent higher revenue in 2013..
The company reported net income of $120.2 million, or $1.26 per share, down from $135.4 million, or $1.34 per share, a year earlier. As use of medical services has fallen during the past few years with the economic downturn, Lab Corp and competitors have also been hurt.
The company reported net income of $120.2 million, or $1.26 per share, down from $135.4 million, or $1.34 per share, a year earlier. Lab Corp said revenue was $1.4 billion, in line with analyst consensus estimates for fourth-quarter revenue of $1.39 billion, according to Thomson Reuters I/B/E/S.