Market Overview

UPDATE: Goldman Sachs Upgrades Varian Medical Systems to Neutral; Downside Less Evident Now

Share:
Related VAR
Varian Medical Update: Why Barrington Likes 'Clear Market Leader'
Varian Medical Systems Receives CE Mark for its Latest ProBeam® Proton Therapy System
Varian Medical Needs Room To Grow (Seeking Alpha)

Goldman Sachs upgraded Varian Medical Systems (NYSE: VAR) from Sell to Neutral and raised the price target from $62.00 to $79.00.

Goldman Sachs commented, "We upgrade shares of Varian Medical Systems (VAR) to Neutral from Sell, as we see business fundamentals stabilizing and consensus estimates now look reasonable. Our Sell thesis on the stock has largely played out with annual Street numbers coming down 8%-10% since 2010. While Varian's core US/EU markets face pressure, the degree of that pressure looks to be abating (predominantly in the US). Near-term competitive dynamics also look more manageable. Given the rebasing of expectations, we see the risk/reward as more balanced."

Varian Medical Systems closed at $72.01 on Wednesday.

Latest Ratings for VAR

DateFirmActionFromTo
Jan 2016JefferiesMaintainsBuy
Jan 2016Barrington ResearchAssumesOutperform
Dec 2015RBC CapitalInitiates Coverage onSector Perform

View More Analyst Ratings for VAR
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (VAR)

View Comments and Join the Discussion!

Get Benzinga's Newsletters