Quest Diagnostics price target raised to $150 from $145 at Truist

Truist analyst David MacDonald raised the firm’s price target on Quest Diagnostics to $150 from $145 and keeps a Hold rating on the shares after its Q1 earnings beat and guidance raise. The firm is positive on the company’s strong base business and utilization trends, better margins, and raised FY24 guidance. Labor costs continues to bear watching, but trends are improving and financial flexibility remains solid, the analyst tells investors in a research note.