UBS Maintains a 'Neutral' on Quest Diagnostics (DGX); Smoke in the Air for the Lab Industry

UBS maintains a 'Neutral' on Quest Diagnostics (NYSE: DGX) price target lowered from $60 to $54.

UBS analyst says, "Mgmt Seems To Concede Tougher Times Ahead; Focused on Cost-Cutting - Given recent IMS doc visit data trends and pot’l for M/E cuts longer-term, we are lowering our EPS estimates for 2011 from $4.25 to $4.23, 2012 from $4.82 to $4.70, and 2013 from $5.32 to $5.15 to remain conservative. Upon reviewing commentary from DGX mgmt at recent investor conferences, mgmt does not seem to be refuting the notion of softer volumes, and instead is focused on cost-cutting."

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 $49.35 yesterday.

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