Market Overview

UPDATE: JP Morgan Downgrades Accuray to Underweight on Negative Pre-Announcement

Share:
Related ARAY
30 Biggest Movers From Yesterday
32 Stocks Moving In Wednesday's Mid-Day Session
Your Daily Pharma Scoop: Conatus Looks Undervalued, Teva Announces Restructuring, Bristol-Myers Signs Licensing Agreement (Seeking Alpha)

JP Morgan reduced its rating on Accuray (NASDAQ: ARAY) from Neutral to Underweight and removed its previous $8 price target.

JP Morgan noted, "Accuray (ARAY) pre-announced F2Q13 results that fell dramatically short of J.P. Morgan and Street expectations, while the company significantly cut fiscal 2013 guidance and announced a restructuring plan. … in light of competitive pressures, multiple company-specific execution issues (manufacturing challenges with new products, disruption from sales force restructuring), and the prospect of share losses and cash burn for the foreseeable future, we are downgrading our rating to Underweight and withdrawing our price target."

Accuray closed at $6.78 on Thursday.

Latest Ratings for ARAY

DateFirmActionFromTo
Dec 2017JP MorganDowngradesNeutralUnderweight
Nov 2017Lake StreetInitiates Coverage OnBuy
Aug 2017JefferiesMaintainsBuy

View More Analyst Ratings for ARAY
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (ARAY)

View Comments and Join the Discussion!