2023-04-03 15:11:27 ET
- Citi has upgraded Quest Diagnostics ( NYSE: DGX ) to neutral from buy saying that its current valuation accurately reflects its risk and reward.
- The firm also upped its price target to $142 from $125 (~1% upside based on Friday's close).
- Analyst Patrick Donnelly wrote that while an uncertain base business volume recovery and wage inflation were weighing on the stock, there is potential upside from value-based contracts, pricing, and Protecting Access to Medicare Act and CMS draw fees.
- He added that his preferred name in the diagnostics space is Exact Sciences ( NASDAQ: EXAS ).
- Read why Seeking Alpha contributor Ryan Licwinto recently issued a buy rating for Quest Diagnostics ( DGX ).
For further details see:
Quest Diagnostics upgraded to neutral at Citi on current valuation