Quest Resource price target lowered to $6.50 from $11.50 at Northland

Northland lowered the firm’s price target on Quest Resource (QRHC) to $6.50 from $11.50 and keeps an Outperform rating on the shares. Quest, which recorded a non-cash impairment loss of $5.5M, or (26c) per diluted share, related to the anticipated sale of the tenant-direct mall portion of RWS, ended 2024 on “a rough note,” but a new CEO, headcount reduction, and focus on creating change to drive operational excellence going forward are “highlights,” says the analyst, who sees short-term headwinds but long-term potential under new leadership.