Big Calls of the Day: JPMorgan Upgrades Accuray

While Fools should generally take the opinion of Wall Street with a grain of salt, it's not a bad idea to take a closer look at particularly stock-shaking analyst upgrades/downgrades -- just in case their reasoning behind the call makes sense.

What: Shares of Accuray (NASDAQ: ARAY  ) climbed 3% today after a JPMorgan analyst upgraded the robotic radiosurgery specialist from "underweight" to "neutral."

So what: Along with the upgrade, analyst Tycho Peterson reiterated his price target of $8 per share on the stock, representing about 17% worth of upside to yesterday's close. Peterson cited steadily improving orders for several of Accuray's recent offerings including the CyberKnife M6 and Tomotherapy H series, offering investors at least some visibility into the company's near-term growth prospects.

Now what: Don't expect the price momentum to slow any time soon.

"We expect the upcoming ASTRO conference, where the company will showcase new products and have customers provide initial feedback on the systems, to be a positive event for the company," wrote Peterson in a note to clients.

Of course, when you couple Accuray's still-very intense competitive environment with its red-hot stock price -- now up about 60% from its 52-week lows -- I'd wait for a wider margin of safety before making a long-term commitment.

More compelling stocks
Dividend stocks can make you rich. It's as simple as that. While they don't garner the notoriety of high-flying growth stocks, they're also less likely to crash and burn. And over the long term, the compounding effect of the quarterly payouts, as well as their growth, adds up faster than most investors imagine. With this in mind, our analysts sat down to identify the absolute best of the best when it comes to rock-solid dividend stocks, drawing up a list in this free report of nine that fit the bill. To discover the identities of these companies before the rest of the market catches on, you can download this valuable free report by simply clicking here now.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2647571, ~/Articles/ArticleHandler.aspx, 11/26/2014 12:54:02 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement