UPDATE: J.P. Morgan Upgrades Hologic; Raises PT - Hologic (NASDAQ:HOLX)

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According to a research report published this morning, J.P. Morgan has upgraded Hologic (NASDAQ: HOLX) from Neutral to Overweight, and increased PT from $20 to $22.In the report, J.P. Morgan commented, "While we are not constructive on the ultimate returns that are likely to be achieved on the GPRO deal, and we question the top-line outlook for the combined diagnostics segment, we believe that the risk/reward is now too compelling to ignore, in light of the significant potential for cost synergies ($75M+), strong free cash flow generation ($700M+ in 2013E), low probability of further deals in the near term, and now attractive valuation (>15% FCF yield), following a >20% pullback in the stock."Hologic closed Friday at $17.44.

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