Soleil Securities Raises Price Target Accuray (ARAY), Potential Earnings From Recent Alliance Imaging (AIQ) Acquisition

Soleil Securities is reiterating its Buy rating on shares of Accuray (Nasdaq: ARAY) and is rasing its price target from $10 to $11 as it believes that the company will benefit from Alliance Imaging (NYSE: AIQ) acquirering U.S. Radiosurgery's CyberKnife business.

Alliance obtained 7 additional CyberKnife centers which brings that company's total to 13 and makes Alliance the leading company in CyberKnife systems.

The firm reports that given reimbursement challenges that companies like Alliance have faced for radiology procedures, it believes other service providers could turn to radiation oncology, specifically Accuray's CyberKnife, to diversify their business mix.

For more ratings news on Accuray click here and for the rating history of Accuray click here.

Shares of Accuray closed at $9.35 yesterday.

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