>>Jefferies boosts Accuray rating
A Jefferies & Co. analyst upgraded medical radiation equipment maker Accuray Inc. Monday on the sales potential of its CyberKnife system.
Dr. Joshua Jennings raised his investment rating on the shares to "Buy" from "Hold" and boosted his target price on the stock to $8 from $6.60. He said in a research note that new orders of $92.1 million suggest demand for the CyberKnife system has been good despite "constricted hospital capital equipment spending."
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"We believe in the innate technology value of the CyberKnife system, and accelerated clinical interest and adoption could precede long term positive clinical data," Jennings wrote in a note to clients.
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