SunTrust analyst David MacDonald lowered his price target on Quest Diagnostics to $96 and kept his Hold rating after its analyst day. MacDonald notes that the presentation indicated that the headwinds around reimbursements will accelerate in 2019, adding that the trends around organic volume and patient concessions also “bear watching”. Longer term, the analyst remains positive on Quest Diagnostics’ fundamentals, stating that the “expanded health plan access” is also a meaningful opportunity for the company.
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