Argus analyst Jasper Hellweg downgraded Quest Diagnostics to Hold, citing the latest downward revision in FY18 guidance by its management due to increased reserves and soft volume trends. The analyst adds that the company continues to face pressure from lower Medicaid payment rates for clinical laboratory tests, adding that its current challenges and reduced guidance warrant caution. Hellweg notes that he would consider returning the rating to Buy if Quest Diagnostics can improve its fundamental performance.
https://thefly.com/landingPageNews.php?id=2856761
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