Barrington Research Maintains Perform on Varian

Barrington Research reiterates its Perform rating on Varian (NYSE: VAR) as the company posts a mixed quarter, but has a new product cycle is a likely positive catalyst for years to come.

Barrington Research notes, " VAR reported mixed Q1/12 results with earnings coming in ahead of expectations, but revenue and orders came in a bit below expectations. There was strong order growth internationally led by Asia and solid growth in South America. In general, we believe VAR has a solid product line that should enable the company to take market share and grow for the foreseeable future. However, we continue to be concerned about the recent fall-off in orders from alternate sites in the U.S."

VAR closed at $66.09 a share on Friday.