According to analysts at Morningstar, the commodities sector of laboratory service provider ALS (ASX:ALQ) is set to continue its downward spiral.

The analysts have maintained a fair value estimate of A$8.40 per share for the company.

They also stated that the near-term market dynamics have not altered enough to necessitate an update to their forecasts.

Currently, shares in ALS are up by 0.5%.

A breakdown of analyst opinions reveals five out of nine rate the stock as ‘buy’ or higher, while four recommend ‘hold’, with a median price target of A$12.90, according to LSEG data.

This year up to the last close, the stock saw a decline of 6.7%.

ALS (ASX:ALQ) is a major provider of laboratory services in Australia.