Market Overview

UPDATE: Goldman Sachs Upgrades Varian Medical Systems to Neutral; Downside Less Evident Now

Share:
Related VAR
Benzinga's Option Alert Recap From April 28
Benzinga's Option Alert Recap From April 11

Goldman Sachs upgraded Varian Medical Systems (NYSE: VAR) from Sell to Neutral and raised the price target from $62.00 to $79.00.

Goldman Sachs commented, "We upgrade shares of Varian Medical Systems (VAR) to Neutral from Sell, as we see business fundamentals stabilizing and consensus estimates now look reasonable. Our Sell thesis on the stock has largely played out with annual Street numbers coming down 8%-10% since 2010. While Varian's core US/EU markets face pressure, the degree of that pressure looks to be abating (predominantly in the US). Near-term competitive dynamics also look more manageable. Given the rebasing of expectations, we see the risk/reward as more balanced."

Varian Medical Systems closed at $72.01 on Wednesday.

Latest Ratings for VAR

DateFirmActionFromTo
May 2017Goldman SachsInitiates Coverage OnNeutral
May 2017BTIG ResearchUpgradesNeutralBuy
Feb 2017Aegis CapitalInitiates Coverage OnHold

View More Analyst Ratings for VAR
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (VAR)

View Comments and Join the Discussion!