Leerink raised the firm’s price target on Hologic (HOLX) to $78 from $70 and keeps a Market Perform rating on the shares following Hologic’s announcement that it will be acquired by Blackstone (BX) and TPG (TPG), for $76 plus a $3 CVR. This transaction makes sense, in Leerink’s view, as public markets have been challenging for Hologic, which operates in lower-growth businesses and with management still working to regain credibility after commercial execution stumbles earlier this year.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HOLX:
- Midday Fly By: GM, Coca-Cola report Q3 beats
- Hologic downgraded to Market Perform from Outperform at William Blair
- Hologic Announces Acquisition Agreement with Blackstone and TPG
- Hologic’s Acquisition by TPG and Blackstone: Hold Rating Amid Lower Valuation and Antitrust Concerns
- Hologic trading resumes