UPDATE: Bank of America Lowers PO on Hologic Due to Updated Valuation

In a report published Monday, Bank of America analyst Lennox Ketner reiterated a Neutral rating on Hologic (NASDAQ: HOLX) and lowered its price objective from $24 to $21.

In the report, Bank of America cited that its new price objective, “equtes to 10x our new CY14 EBITDA estimate of $981mm. This is a slight premium to the medtech average of 9x, given HOLX's slightly higher top-line and earnings growth outlook over the next few years.”

Hologic closed Monday at $20.65.