Truist analyst David MacDonald lowered the firm’s price target on Quest Diagnostics to $160 from $170 and keeps a Hold rating on the shares. The company’s investor day presentation focused on solid core trends and long-term growth and margin expansion opportunities, even though its environmental challenges remain and regulation "always bears watching", the analyst tells investors in a research note. The firm "continues to like" the opportunity around Quest Diagnostics’ investments in DTC/genomics/oncology, technology, and payor relationships, though its price target cut on the stock reflects broader market multiples, Truist added.
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