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Fly News Breaks for January 26, 2017
VAR
Jan 26, 2017 | 07:04 EDT
Evercore ISI analyst Vijay Kumar to Sell and lowering its price target to $81.50 saying the earnings report had a number of moving parts and confusing FY17 guidance. Kumar estimates updated guidance implies FY17 earnings of approximately $4.55-$4.70 versus FY16 earnings of $4.68, indicating flattish growth. Additionally, public company costs on spinco VREX's side was the main reason for the difference with the Street and Kumar questions whether core VAR Oncology shareholders will want to own VREX. Further, the potential for order push-outs by hospitals due to ACA repeal noise creates further uncertainty.
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