NEW YORK (360Dx) – Wells Fargo today resumed coverage of the two largest clinical lab companies with an Outperform rating for Laboratory Corporation of America and a Market Perform rating for Quest Diagnostics.

Wells Fargo set a price target for LabCorp of $175 and a price target of $88 for Quest.

In a note to investors, Wells Fargo senior analyst Tim Evans described both companies as "relatively well positioned in an otherwise structurally challenged and commoditized industry." Wells Fargo is currently underweight-rated on the clinical lab sector as a whole.