Mizuho analyst Ann Hynes recommends buying shares of Quest Diagnostics (DGX) following yesterday's 5% post-earnings selloff. The weakness related to confusion around not being a "preferred" in-network provider for UnitedHealth (UNH) currently and the initial 2019 guidance only setting a minimum range of "greater than $6.40" versus consensus of $6.56, Hynes tells investors in a research note. However, she thinks Quest "set the bar low to be able to beat and raise throughout the year." The analyst maintains a Buy rating on the shares with a $106 price target.

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UBS raised the firm's price target on Quest Diagnostics to $146 from $139 and keeps a Neutral rating on the shares. UBS is more confident that Quest can hit its margin expansion story following the Q2 print and the firm's call with management, the analyst tells investors in a research note. Labor cost trends seem to have already peaked and Covid revenues should no longer be a headwind starting 2H, while above market base volume growth continues, the firm notes.

Citi raised the firm's price target on Quest Diagnostics to $145 from $135 and keeps a Neutral rating on the shares post the Q1 report. The company increased the midpoint of its fiscal 2024 revenue target and management anticipates the rest of fiscal year to follow regular seasonality on a revenue and margin basis with a step-up into Q2, the analyst tells investors in a research note.

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