UPDATE: Jefferies Raises PT on Accuray Following Good F4Q Results
In a report published Wednesday, Jefferies analyst Raj Denhoy reiterated a Buy rating on Accuray (NASDAQ: ARAY), and raised the price target from $6.50 to $8.00.
In the report, Jefferies noted, “ARAY posted a good F4Q with a modest revenue beat, tighter expense controls, and another sequential uptick in bookings. Initial F14 guidance calls for continued order momentum albeit with a slightly higher opex run-rate. The continued bookings resurgence coupled with cost controls make the still distressed valuation increasingly unsustainable. We stay at Buy and PT goes to $8.”
Accuray closed on Tuesday at $6.10.
Latest Ratings for ARAY
|Jun 2014||JP Morgan||Upgrades||Neutral||Overweight|
|Mar 2014||BTIG Research||Initiates Coverage on||Buy|
|Jan 2014||JP Morgan||Maintains||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.