Why Quest Diagnostics Stock Is Jumping Today
Shares of Quest Diagnostics (NYSE: DGX) were jumping 4% as of 11:07 a.m. EST on Friday after rising as much as 6.7% earlier in the day. The gain came after Citigroup analyst Ralph Giacobbe raised the price target on the stock from $151 to $158. The higher target reflects a premium of nearly 28% to Quest's closing price on Thursday.
It's usually best to take Wall Street analysts' price target changes with a grain of salt. No one really knows how much a stock will move in the future. However, it's good to understand analysts' thought process.
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Source Fool.com
