Barclays maintains an 'Overweight' on Quest Diagnostics (DGX); Perspectives on Celera: Time Will Tell
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Price: $244.39 +1.28%
Rating Summary:
15 Buy, 17 Hold, 2 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 17 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Quest Diagnostics (NYSE: DGX), PT $64.
Barclays analyst says, "Quest is clearly focused on M&A as a source of growth and we believe this is positive, although we believe it may take some time for the company to get credit for this transaction. The key to whether or not the acquisition of Celera (NYSE: CRA) is a success, in our view, is if Quest is able to grow Celera, despite Celera having a hard time growing as a stand-alone company in recent years. If Quest is able to show the market that it is able to accelerate growth at Celera, we believe this will be very well received since it will not only demonstrate that this was a good transaction for DGX but also provide the market with visibility in Quest's ability to do similar transactions in the future. We do not necessarily believe it will be easy for Quest to boost growth, however, Quest intends to sell these tests through a new specialty sales force that is focused on cardiology, which greatly increases the likelihood of success, in our view."
For more ratings news on Quest Diagnostics click here and for the rating history of Quest Diagnostics click here.
Shares of Quest Diagnostics closed at $53.74 yesterday.
Barclays analyst says, "Quest is clearly focused on M&A as a source of growth and we believe this is positive, although we believe it may take some time for the company to get credit for this transaction. The key to whether or not the acquisition of Celera (NYSE: CRA) is a success, in our view, is if Quest is able to grow Celera, despite Celera having a hard time growing as a stand-alone company in recent years. If Quest is able to show the market that it is able to accelerate growth at Celera, we believe this will be very well received since it will not only demonstrate that this was a good transaction for DGX but also provide the market with visibility in Quest's ability to do similar transactions in the future. We do not necessarily believe it will be easy for Quest to boost growth, however, Quest intends to sell these tests through a new specialty sales force that is focused on cardiology, which greatly increases the likelihood of success, in our view."
For more ratings news on Quest Diagnostics click here and for the rating history of Quest Diagnostics click here.
Shares of Quest Diagnostics closed at $53.74 yesterday.
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