UBS Upgrades Quest Diagnostics (DGX) to Buy
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UBS upgraded Quest Diagnostics (NYSE: DGX) from Neutral to Buy with a price target of $90.
Analyst A.J. Rice said, "At its investor day on November 11, Quest management laid out the growth outlook for the company's next 3-5 years. From 2017 to 2020, DGX expects to post annual revenue growth of 3-5%, with 1-2% coming from acquisitions. Earnings growth over the same period is expected to be in the mid-to-single digit percentage growth range. Finally, free cash flow is projected to grow in the high single digit growth range. These growth targets represent reiterations and in some cases increases in company targets. In addition, DGX management says it approached the outlook in a way that leaves the potential it can be at the high end of expectations."
Shares of Quest Diagnostics closed at $81.46 yesterday.
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