UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Accuray
In a report published Friday, Jefferies & Company reiterated its Buy rating on Accuray (NASDAQ: ARAY), but lowered its price target from $10.00 to $6.50.
Jefferies noted, “Accuray posted preliminary F2Q results well below expectations and drastically reduced its F13 guidance. The reset under new management was expected but the severity was a surprise. Valuation is set to move into distressed territory, unwarranted given that our thesis is delayed but intact. Lowering estimates and PT but maintaining Buy.”
Accuray closed on Thursday at $6.78.
Latest Ratings for ARAY
|Feb 2017||Aegis Capital||Initiates Coverage On||Buy|
|Dec 2016||JP Morgan||Downgrades||Overweight||Neutral|
|Sep 2016||Cowen & Co.||Initiates Coverage on||Outperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.