UPDATE: Bank of America Initiates Coverage on Hologic
According to a research report released this morning, Bank of America has initiated Hologic (NASDAQ: HOLX) with a Buy rating and $26 PT.
Bank of America said in the report, “We initiate Hologic (HOLX), a leading manufacturer of medical devices focused on women's health, with a Buy rating and $26 price objective. The Buy rating is based on our expectation that Hologic's 3D Dimensions system - the first mammography system approved in the US for 3D imaging or ‘tomosynthesis' – will drive meaningful upside to consensus in 2012-14. Our $26 PO equates to 16.5x our CY13 EPS estimate of $1.58, which we view as an appropriate multiple given our belief that Hologic can drive a 10%+ EPS CAGR from 2012-14.”
Hologic closed yesterday at $21.93.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.