Goldman Sachs Upgrades Varian Medical (VAR) to Neutral on Stabilization

March 7, 2013 7:28 AM EST
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Price: $81.62 +1.04%

Rating Summary:
    12 Buy, 7 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 15 | New: 31
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Goldman Sachs upgraded Varian Medical (NYSE: VAR) from Sell to Neutral with a price target of $79.00 (from $62.00).

The firm sees business fundamentals stabilizing and said consensus estimates are now reasonable. The radiation oncology market operating dynamics look to be reaching a bottom, according to the firm.

Goldman raised FY13 EPS from $4.09 to $4.10, FY14 from $4.57 to $4.80 and FY15 from $5.07 to $5.37.

For an analyst ratings summary and ratings history on Varian Medical click here. For more ratings news on Varian Medical click here.

Shares of Varian Medical closed at $72.01 yesterday.

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