UPDATE: Piper Jaffray Lowers PT on Quest Diagnostics to $55

Piper Jaffray is out with its report today on Quest Diagnostics DGX, lowering its PT to $55 from $61. In its report, Piper Jaffray writes, "Given the recent concerns about the debt ceiling issue and potential Medicare cuts (copay for labs), we are reducing our price target to $55 from $61 and we maintain our Neutral rating." Shares of DGX closed Wednesday at $48.40, up 1.77% from Tuesday's close.