RBC Capital analyst Conor McNamara initiated coverage of Hologic with a Sector Perform rating and $75 price target. The stock’s premium valuation would only be warranted if the company can show long-term revenue growth into new and expanding markets at non-dilutive margins, the analyst tells investors in a research note. McNamara adds that he prefers to wait for a better entry point where shares are either cheap on an absolute and relative basis or there are enough data points to build conviction that long-term growth targets of 5%-7% are achievable beyond 2025.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on HOLX: