Varian Medical price target raised to $130 from $115 at RBC Capital

RBC Capital analyst Brandon Henry raised his price target on Varian Medical to $130 after its Q1 results, saying the company’s “gross order outperformance” was geographically broad. The analyst also contends that the company is “benefiting from a strong new product portfolio and what appears to be a continued acceleration in radiation oncology market growth.” Henry keeps his Sector Perform rating on the shares however, noting that the medium term trend in the worldwide radiation oncology market is “difficult to forecast.
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