Mizuho Securities Remains Sidelined on Quest Diagnostics (DGX) Following Investor Day
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Mizuho Securities maintained a Neutral rating and $88.00 price target on Quest Diagnostics (NYSE: DGX) following the company's investor day. DGX raised its outlook for revenue growth for the period 2017-2020 to +3-5% from +2-5% previously and expects earnings for the same period to grow in the mid-to-high single digit range.
Analyst Ann Hynes commented, "We attended DGX’s investor day where the company provided an overview of growth opportunities, raised its long-term outlook expectations, and reiterated 2016 guidance. We remain positive on the long-term outlook for the company and we are especially optimistic on their prospects of forming partnerships with hospitals and health systems. Free cash flow remains an investment highlight. We maintain our Neutral rating due to valuation."
Shares of Quest Diagnostics closed at $81.46 yesterday.
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