UPDATE: J.P. Morgan Upgrades Accuray on Multiple Positive Factors

In a report published Friday, J.P. Morgan analyst Tycho W. Peterson upgraded the rating on Accuray ARAY from Underweight to Neutral, and reiterated the $8.00 price target. In the report, J.P. Morgan noted, “We are upgrading Accuray (ARAY) from Underweight to Neutral, as the company has shown continued improvement in orders, aided by recent product introductions (CyberKnife M6, Tomotherapy H series). We expect the upcoming ASTRO conference, where the company will showcase new products and have customers provide initial feedback on the systems, to be a positive event for the company and we upgrade from Underweight to Neutral.” Accuray closed on Thursday at $6.85.