Quest Resource price target lowered to $5.50 from $6.50 at Northland

Northland analyst Owen Rickert lowered the firm’s price target on Quest Resource (QRHC) to $5.50 from $6.50 and keeps an Outperform rating on the shares. Q1 results came in roughly in-line, reflecting previously discussed temporary cost pressures, while the reduction in revenue can be attributed to lower volumes due to client attrition and lower volumes at a select number of larger clients, the analyst tells investors.