UPDATE: Citi Raises PT on Laboratory Corp of America to $101

Citi is out with its report today on Laboratory Corp of America LH, raising its PT from $89 to $101. In a note to clients, Citi writes, "LH shares have outperformed into and through the 1Q11 results last month, leaving our 12/1/10 $86 downgrade in the dust. Today we've revisited and boosted our Genzyme revenue and accretion assumptions. We still view LH as a core healthcare facilities holding, but struggle to forecast outperformance at the current valuation. We are raising our 12-month price target from $89 to $101." Citi maintains Hold on LH. Shares of LH closed Friday at $100.60, down 0.12% from Thursday's close.