Dougherty & Co Starts Accuray (ARAY) at Buy, Sets $9.50 Price Target

Dougherty & Co initiated coverage on Accuray (NASDAQ: ARAY) with a Buy rating and $9.50 price target Wednesday afternoon.

The firm believes Accuray's purchase of TomoTherapy last year was "transformational, giving Accuray a critical mass of machines in the field, a broader suite of products, a wider customer base, and the ability to compete more aggressively with the #1 and #2 companies in the radiation oncology space, Varian Medical (NYSE: VAR) and Elekta." Dougherty said the addition of TomoTherapy has created greater acceptance for Accuray by oncology experts.

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

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