Quest Diagnostics initiated with an In Line at Evercore ISI

Evercore ISI analyst Elizabeth Anderson initiated coverage of Quest Diagnostics with an In Line rating and $159 price target. Quest, as the largest independent lab testing service provider in the U.S., is "an indispensable part of the U.S. healthcare system," Evercore tells investors. The firm forecasts topline growth and margin expansion upside over the medium term despite Quest’s scale, driven by industry consolidation and an improving operating environment, but points to the current valuation as a reason for staying on the sidelines.