UPDATE: Canaccord Genuity Reiterates Buy Rating, Raises PT on Hologic

In a report published Monday, Canaccord Genuity reiterated its Buy rating on Hologic

, and raised its price target from $23.00 to $27.00. Canaccord Genuity noted, “We reiterate our BUY rating and increase our price target to $27 from $23 as we see a favorable risk/reward profile in HOLX shares. As a result of further analysis of the Gen-Probe acquisition – including a detailed scenario analysis for the combined company presented in this report – we think both our new EPS estimates and valuation assumptions could prove conservative, and thus would accumulate shares at current levels.” Hologic closed on Friday at $20.74.