Quest Diagnostics (DGX) Added to Focus List at Credit Suisse

Credit Suisse added Quest Diagnostics (NYSE: DGX) to its Focus List Tuesday, which follows a move by Clinical Labs & Healthcare Facilities analyst Ralph Giacobbe to upgrade the stock to Outperform and raise his price target from $62 to $65.

The firm's Investment Policy Committee sees Quest Diagnostics as a "strong non-consensus stock opportunity," with only 6 buys versus 15 Hold and Sell ratings combined.

With the stock down 5 percent in the last year, its sharply lacking both the S&P 500 (+13%) and key peer Laboratory Corp. of America Holdings (NYSE: LH) (+20%).

"At this point however, we think that earnings estimates have troughed, while valuation sits at the bottom of the historical range and LBO potential limits downside risk."

Shares of Quest Diagnostics are up 2.8 percent in early trading Tuesday to $56.30.

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