Needham & Company Maintains a 'Buy' on Varian Medical (VAR); F3Q11 Top Line Beat, Bottom Line Meet; Guidance Affirmed

Needham & Company maintains a 'Buy' on Varian Medical (NYSE: VAR) price target of $84.00.

Needham analyst says, "Things appear to remain on track at VAR, although we think there may be some mild disappointment with Oncology System order growth of 9%. Note that this was due to flat growth in North America versus 17% in the rest of the world. The North American comp was a tough one as it was the first quarter with a positive Y/Y comparison coming out of the recession. The comps will only get tougher from here as the September 2010 North American order growth was 24%."

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

Shares of Varian Medical closed at $67.12 yesterday.

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