Quest Diagnostics (NYSE:DGX) Delivers Strong Q2, Jefferies Raises Price Target

• Jefferies reiterated a "Buy" rating for Quest Diagnostics and raised its price target to $245.00, signaling increased confidence in the company's future value.
• Quest Diagnostics reported robust Q2 adjusted EPS of $3.12, a 19.1% year-over-year increase, significantly beating analyst estimates.
• The company's revenue grew 10.2% to $3.04 billion, driven by a 13.1% rise in test requisition volume, surpassing consensus estimates and leading to a raised full-year financial outlook.

Quest Diagnostics (NYSE:DGX) is a leading provider of diagnostic information services. The company offers a wide range of clinical laboratory tests and services to physicians, hospitals, and directly to consumers. Its work is crucial for diagnosing diseases, monitoring health, and guiding treatment decisions for millions of people.

On July 23, 2026, the analyst firm Jefferies confirmed its positive view on Quest Diagnostics by reiterating its "Buy" rating. A "Buy" rating suggests that an analyst believes the stock's price will increase. Jefferies also raised its price target for the company to $245.00 from $225.00, indicating higher expectations for its future value.

This optimistic rating is supported by the company's strong second-quarter performance. Quest Diagnostics reported adjusted earnings per share (EPS) of $3.12, a 19.1% increase from the previous year. EPS represents the company's profit allocated to each outstanding share of stock, and this result beat analyst estimates of $2.83.

The company's revenue also showed significant growth, increasing by 10.2% year-over-year to $3.04 billion. This growth was driven by a 13.1% increase in test requisition volume, showing higher demand for its services. This performance surpassed the consensus revenue estimate of $2.97 billion, as highlighted by Benzinga.

Reflecting this strong performance and sustained demand, Quest Diagnostics raised its financial outlook for the full year 2026. As reported by Zacks, the company now projects revenues between $11.95 billion and $12.05 billion. It also expects adjusted EPS to be in the range of $11.05 to $11.25 for the year.