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UPDATE: Jefferies Raises PT on Accuray Following Good F4Q Results

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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

DateFirmActionFromTo
Sep 2016Cowen & Co.Initiates Coverage onOutperform
Dec 2015RBC CapitalInitiates Coverage onSector Perform
Nov 2015CitigroupInitiates Coverage onSell

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