Jefferies raised its price target on Quest Diagnostics (NYSE: DGX) to $96.00 (from $86.00) while maintaining a Hold rating. DGX posted its 5th consecutive quarter of positive organic volume growth, which yielded a $0.04/3% EPS beat on in-line EBITDA.

Analyst Brian Tanquilut commented, "We are maintaining our Hold on DGX given our view that significant multiple expansion is unlikely from its current 10-year high P/E. That said, we do not expect its valuation to crack either given the company's stable fundamentals, the emerging opportunity with hospital labs, consistent dividend & buybacks, potential upside from US tax reform, and the composition of its shareholder base."