Jefferies Lowers PT and Estimates on Accuray (ARAY); Dull CyberKnife

Jefferies maintains a 'Buy' on Accuray (NASDAQ: ARAY) price target of $8.00 (from $9.00).

Analyst, Raj Denhoy, said, "ARAY’s 4Q was a lot of good stuff (strong bookings, good service margins, new product announcements) with one really bad thing: CyberKnife revenues in 2012 were down 28%. The company is pointing to good bookings and new tech coming at ASTRO as reasons to be optimistic but the result and the guidance for 2013, which is low, shakes the confidence."

Lowers Q1 EPS estimate from (0.10) to (0.21), lowers FY13 EPS estimate from (0.17) to (0.38).

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

Shares of Accuray closed at $6.54 yesterday.

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