Citi lowered the firm’s price target on Quest Diagnostics to $135 from $145 and keeps a Neutral rating on the shares after its Q4 results and below-consensus FY24 guidance. The company indicated that it sees operating margin with some level of expansion, but no concrete target was established, the analyst tells investors in a research note. The firm adds that Quest Diagnostics’ healthcare utilization remains healthy as management expects to see continued growth in volumes and positive pricing following a trough in Q1 amid “regular seasonality and an increased headwind from adverse weather”.
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