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UPDATE: Canaccord Genuity Downgrades Hologic on Negative Outlook

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In a report published Tuesday, Canaccord Genuity analyst Jason R. Mills downgraded the rating on Hologic (NASDAQ: HOLX) from Buy to Hold, and lowered the price target from $26.00 to $19.00.

In the report, Canaccord Genuity noted, “HOLX's commentary at fall brokerage meetings portended a flattish outlook for FY14, but actual '14 guidance on the Q4 call painted an even worse picture of current fundamentals, in our view. While we recognize management is likely attempting to mitigate quarterly misses and suggested FY15 should stabilize, we think growth will remain challenged, thus we downgrade to HOLD and lower our price target to $19, based on our five-year DCF, which uses a generous 14x terminal multiple (notwithstanding low/mid-single-digit FCF CAGR) and 7% discount rate. We would not be constructive buyers unless weakness is significant.”

Hologic closed on Monday at $22.90.

Latest Ratings for HOLX

DateFirmActionFromTo
Feb 2021BairdMaintainsBuy
Dec 2020Morgan StanleyMaintainsEqual-Weight
Nov 2020NeedhamDowngradesBuyHold

View More Analyst Ratings for HOLX
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Posted-In: Canaccord Genuity Jason R. MillsAnalyst Color Downgrades Analyst Ratings

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