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Accuray touts another quarter of growth, gains Wall Street favor

Wed, 08/28/2013 - 2:25pm
Mass Device

Radiosurgery systems maker Accuray gains more than 10% after releasing its 4th quarter earnings report.

Accuray touts another quarter of growth, gains Wall Street favor

Wall Street piled favor on California radiosurgery systems maker Accuray (NSDQ:ARAY) after the company narrowed losses in its 4th quarter, even as sales dropped by more than 15%.

Analysts at Jeffries group raised their price target on Accuray from $6.50 to $8.00, maintaining a "buy" rating on the stock. Brean Capital also reiterated a "buy" rating, maintaining a $9 price target. ARAY shares jumped 10.3% today, trading at $6.73 as of about 2:00 p.m.

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