Quest Diagnostics price target raised to $207 from $191 at Morgan Stanley

Morgan Stanley analyst Erin Wright raised the firm’s price target on Quest Diagnostics (DGX) to $207 from $191 and keeps an Overweight rating on the shares. Another “beat & raise” quarter was “encouraging,” but shares slid as expectations were high and margin pressure was seen in Q3. The firm, which cites a “robust” utilization environment and relative policy insulation for its hiked target, thinks utilization strength should be a positive read for Labcorp’s (LH) upcoming report on October 28, but notes that the bar may be raised for labs.