Piper Jaffray Raises PT To $26 On Hologic

Piper Jaffray, citing strong 2Q11 results, has raised its price target on Hologic Inc. HOLX from $24 to $26. Says Piper Jaffray, in the report, “Hologic reported strong 2Q11 results, with revenue and EPS both exceeding our and Street consensus expectations. Interest in 3D tomosynthesis mammography appears strong, with >600 quotes provided in the initial months following FDA approval and a mix-shift to upgradeable 2D Dimensions systems in the quarter (47% of mammography revenue). Management increased F2011 guidance, which we continue to view as conservative, with favorable initial 3D interest and our expectations for a continued physician office visit recovery representing potential drivers of upside to guidance.” Piper Jaffray maintains an Overweight rating on the stock. HOLX closed yesterday at $22.42.