UPDATE: Stifel Nicolaus Downgrades Hologic to Hold
Stifel Nicolaus lowers its rating on Hologic (NASDAQ: HOLX) to Hold from Buy on valuation that already includes projected growth for 2012.
Stifel Nicolaus says, "With shares of HOLX having appreciated approximately 12% on a year-to-date basis (vs. S&P500 up 5%) and 38% since hitting an annual low in October (vs. S&P500 up 21%) and now trading within 2% of our previous target price, we are lowering our rating to Hold from Buy. At $19.63, HOLX shares trade at a multiple of 14.1x our calendar 2012 EPS estimate of $1.40, a discount to the peer group's 15.1x average multiple, but at a level that we believe appropriately reflects our growth projections for the coming 12 months."
HOLX closed at $19.63 a share on Wednesday.
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