Quest Diagnostics: Big top-line deserves praise, need core to keep growing from these levels

研报英文原文证据摘录

Quest Diagnostics: Big top-line deserves praise, need core to keep growing from these levels

Deutsche Bank

Research

Rating Company Date

Hold Quest Diagnostics 23 July 2026

Forecast Change

North America

United States

Reuters Bloomberg Exchange Ticker Price at 22 Jul 2026 (USD) 209.83

DGX.N DGX US NYS DGX

Price Target (USD) 232.00

Health Care

52-week range (USD) 216.02 - 10.15

Life Science Tools &

Diagnostics

Big top-line deserves praise, need core

Valuation & Risks to keep growing from these levels

Pito Chickering

Portfolio Manager Summary Research Analyst

DGX delivered a 2Q top-line beat that should serve as a show of confidence in the +1-917-635-9954

business’s momentum while also offering a much-needed encouraging

Kieran Ryan

readthrough to the broader healthcare facilities space after a volatile and noisy first Research Analyst

couple weeks of earnings as it relates to views around utilization. The highlight was +1-212-250-6879

the 13% organic requisition volume growth, ~9 percentage points of which came

Imron Zafar

from the Corewell and Fresenius contracts with the remaining ~4.1% from the rest

Research Analyst

of the DGX DIS business. We believe the first ~9 points of growth were more tilted

+1-212-250-3676

toward Corewell where DGX continues to expect $250m in revenue this year,

though contribution from the Fresenius deal appears strong with the targeted Ben Shaver

$100m in 2026 contribution there looking firmly achievable. Research Associate

+1-212-250-9926

For the ~4.1 points of growth from the rest of the business, the physician channel

Key changes

continues to look strong with high-single-digit volume and revenue growth, and the

205.00 to

broader consumer portfolio continues to scale up off a smaller base with growth TP ↑ 13.2%

232.00