Quest Diagnostics headwinds are short-term in nature, says Piper Jaffray

Piper Jaffray analyst William Quirk says the headwinds that drove Quest Diagnostics’ reduced fiscal 2018 guidance are mostly weather related and short-term in nature. The updated guidance reflects volume softness due to Hurricane Michael, California Wildfires and the recent East Coast weather, Quirk tells investors in a research note. As such, the analyst believes the outlook reduction is “largely a one-time event.” He keeps a Neutral rating on the shares with a $110 price target.

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