Leerink upgraded Quest Diagnostics (DGX) to Outperform from Market Perform with a price target of $174, up from $169. The firm notes its view on Quest has generally been positive, as the trend towards steady volumes, stable pricing, improved mix, and a solid M&A pipeline have all driven positive operating results. Given what should be a continuation of these trends into FY25, aided by a solid kick-off to the year as flu/respiratory volumes ramp, Leerink sees Quest as providing a defensive risk/reward opportunity with limited downside drivers. The company’s preliminary outlook of high-single digit EPS growth for FY25 falls generally in-line with Leerink’s 9% growth estimate, which it would see as more likely to see upside vs. downside over the course of FY25.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
