UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Varian Medical Systems

In a report published Friday, Jefferies & Company reiterated its Buy rating on Varian Medical Systems

, and raised its price target from $65.00 to $68.00. Jefferies noted, “VAR posted a strong F4Q with beats in revenues, EPS, and orders. Initial F13 guidance calls for 8-9% top-line growth. The strong surge in orders and higher outlook should ease persistent concerns of pressures from potential CMS reimbursement cuts, pricing, and competition.” Varian Medical Systems closed on Thursday at $58.10.