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
|Sep 2016||Cowen & Co.||Initiates Coverage on||Outperform|
|Dec 2015||RBC Capital||Initiates Coverage on||Sector Perform|
|Nov 2015||Citigroup||Initiates Coverage on||Sell|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.