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DGX Quest Diagnostics downgraded to Neutral at BofA- tgt cut to $57 from $63 (51.69 )

BofA downgrades DGX to Neutral from Buy and cuts their tgt to $57 from $63 after yesterday morning's proposed acquisition of AmeriPath, and on fewer opportunities for accretive initiatives after yesterday's $2 bln capital commitment. The firm says DGX's ability to supplement its growth through share repurchases or other efforts to enhance its competitive position is limited. The firm says LabCorp of America (LH) is a more attractive investment opportunity, for its faster earnings growth and more opportunistic capital deployment this year.
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