Citi Remains Bullish on Varian Medical Systems (VAR) Following 2Q Preview

Citi reiterated a Buy rating and $132.00 price target on Varian Medical Systems (NYSE: VAR) following a 2Q preview. Analyst Amit Hazan sees a slightly better oncology order growth this quarter than last and sees the P&L as nicely set up to beat.

For 2Q, Hazan is expecting a better number in all three regions, as slightly easier comps combine with better new product contribution. The EPS line has the least transparency/most uncertain heading into the print. With updated annual guidance of $4.24-4.36 in mind, Citi estimates a range of $1.06-$1.12, with Street at $1.04.

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 $121.01 yesterday.

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