Needham & Company Maintains a 'Buy' on Varian Medical (VAR); Cutting Numbers on Mixed Quarter

Needham & Company maintains a 'Buy' on Varian Medical (NYSE: VAR) price target lowered from $84 to $79.

Analyst, Dalton Chandler, said, "It was a Good News/ Bad News quarter for VAR, but we think on balance it was positive. Despite lower margins and slightly lower guidance we think that the Siemens deal is a long term positive and we believe margins can rebound as management has outlined." (FY12 EPS cut from $3.98 to $3.79 and FY13 from $4.47 to $4.31)

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 $69.79 yesterday.

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