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UPDATE: Canaccord Genuity Reduces PT to $59 on Quest Diagnostics

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Canaccord Genuity reiterated its Hold rating on Quest Diagnostics (NYSE: DGX) and reduced its price target from $60 to $59.

Canaccord Genuity noted, "We reiterate our HOLD following soft 3Q results. Utilization, pricing, and share shift from labs to hospitals remain significant pressures, causing a lower 2012 outlook. While we appreciate the acceleration of the cost- cutting and debt repayment, we remain on the sidelines. … Lowering our 2012E revenue growth rate to 0.4% from 1.5% and our EPS estimate to $4.55 from $4.58. For 2013, we lowered our revenue growth to 0.5% from 2.1% and our EPS estimate to $4.90 from $4.95, lowering our PT to $59 from $60."

Quest Diagnostics closed at $63.37 on Tuesday.

Latest Ratings for DGX

DateFirmActionFromTo
Jul 2019DowngradesNeutralSell
Apr 2019MaintainsOverweightOverweight
Apr 2019MaintainsNeutral

View More Analyst Ratings for DGX
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Posted-In: Canaccord GenuityAnalyst Color Price Target Intraday Update Analyst Ratings

 

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