ViewRay shares have ‘significant upside’ potential, says Cantor Fitzgerald

Cantor Fitzgerald analyst Craig Bijou reiterates an Overweight rating on ViewRay with a $13 price target after meeting with management. The analyst left “more bullish on the opportunity ahead” for the company. Management’s goal to reduce the time from purchase order to revenue recognition could drive “meaningful upside” to Street numbers in 2020, Bijou tells investors in a research note. He thinks the stock, despite the recent run, has “significant upside,” driven by increased revenue and multiple expansion.

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