Quest Diagnostics price target cut to $94 from $104 at Craig-Hallum

Craig-Hallum analyst Kevin Ellich maintained a Hold rating on Quest Diagnostics but lowered his price target to $94 following the company’s analyst day, telling investors in a research note that some lingering questions about the company’s lowered 2018 outlook overshadows the company’s stable long-term outlook. Ellich thinks Quest will increase M&A activity with more hospital outreach deals, as well as advanced diagnostics and enhancements to its testing capabilities in oncology, women’s health, and neurology, which will help drive acquisition growth contribution of greater than2% over the next several years.
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