UPDATE: BofA/Merrill Lynch Upgrades Quest Diagnostics (DGX) to Buy, Positive EPS Revisions

(Updated - July 25, 2017 1:22 PM EDT)

(updated to add PT and expand analyst comment)

BofA/Merrill Lynch upgraded Quest Diagnostics (NYSE: DGX) from Neutral to Buy, price target $118.00 (from $111.00).

Analyst Steve Valiquette says operating leverage thesis remains intact as margins begin to improve again. He adds that he believes the company will continue to trade in line with the market's P/E multiple next year. Further he adds that investors should take advantage of the weakness today.

FY 2017 EPS estimate rises from $5.50 to $5.72, FY 2018 EPS estimate rises from $6.00 to $6.08 and FY 2019 EPS estimate rises from $6.42 to $6.51.

For an analyst ratings summary and ratings history on Quest Diagnostics click here. For more ratings news on Quest Diagnostics click here.

Shares of Quest Diagnostics closed at $109.44 yesterday.

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