Evercore ISI analyst Vijay Kumar upgraded Varian Medical Systems to In Line from Underperform and raised his price target for the shares to $123.50 from $122. The analyst upgraded the shares after Varian received an exemption from China relative to the tariffs on imports from the U.S. The analyst thinks Varian's earnings were hurt by 3%-4% in fiscal 2019 from the tariffs, or 15c-20c per share. However, some of the upside from the tariff relief is offset by lower organic sales assumptions and currency volatility, Kumar tells investors in a research note.