RBC sees nearly 30% upside for medical tech stock as headwinds abate

There's a rosy outlook ahead for Hologic , according to RBC Capital Markets. The bank upgraded shares of the medical technology provider to outperform from sector perform. Analyst Conor McNamara accompanied the move by raising his price target to $87 per share from $72. Shares of Hologic have slipped 6% this year, but McNamara's revised price forecast implies an upside ahead of 28%. HOLX YTD mountain HOLX YTD chart "Our new price target assumes HOLX returns to historic multiples seen when the company was growing revenue MSD [mid-single digit] and beating / raising," the analyst wrote. McNamara said he believes Hologic's organic revenue growth guidance for fiscal 2026 will exceed current street estimates. This could in turn boost investor confidence, "leading to a period of multiple expansi