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Fly News Breaks for February 15, 2017
CYNO, HOLX
Feb 15, 2017 | 06:33 EDT
BofA/Merrill analyst Derik de Bruin downgraded Hologic (HOLX) to Neutral and lowered its price target to $41 from $46 saying the Cynosure (CYNO) acquisition enhances growth but at lower margins. The analyst said Cynosure adds new higher growth revenue but margins and cash flows are low relative to Hologic's and will not fully offset dilution from the recent blood screening divestiture. Further, de Bruin said Hologic will be competing against larger rivals with more experience in medical aesthetics.
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