Quest Resource downgraded to Market Perform from Outperform at Northland

Northland downgraded Quest Resource (QRHC) to Market Perform from Outperform with a price target of $2.25, down from $5.50, after the company reported Q2 results. Quest faces headwinds, primarily with continued softness with some industrial customers and ongoing macro uncertainties, and it appears that strategic initiatives are “going to take longer to bear fruit” given the macro uncertainty, the analyst tells investors.