Citi upgrades Hologic to Buy on conservative annual outlook

Citi upgraded Hologic to Buy from Neutral with a price target of $95, up from $80. The analyst believes the U.S. Preventive Services Task Force overhang has outweighed the company’s strong core performance. Even if there is a change, the impact to Hologic will be manageable in forward-year estimates, the analyst tells investors in a research note. Additionally, Citi believes the company’s fiscal year outlook looks conservative and does not rely on a significant second-half market recovery, differentiating itself from peers.