UPDATE: Jefferies Raises PT on Accuray Following Good F4Q Results
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
|Feb 2017||Aegis Capital||Initiates Coverage On||Buy|
|Dec 2016||JP Morgan||Downgrades||Overweight||Neutral|
|Sep 2016||Cowen & Co.||Initiates Coverage on||Outperform|
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