The firm also increased its price target to $44 from $42 on shares of the Marlborough, MA-based maker of diagnostic and medical imaging systems related to women's health.
"We are now convinced the company can grow 'stronger for longer' versus our previous expectations. A few aspects of the thesis have moved more positively for us since the beginning of 2016," Barclays wrote in an analyst note.
The firm believes Hologic's breast health business will be able to sustain L-MSD growth with a longer 3D mammography tail, service growth from 3D conversions and new product launches such as its Affirm breast biopsy guidance system.
"Our FDA mammography market model improves our conviction in the durability of placements and Hologic share gains," Barclays added.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations.
The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: HOLX