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Fly News Breaks for November 18, 2019
VAR
Nov 18, 2019 | 09:03 EDT
Baird analyst Jason Bednar said he was incrementally positive on Varian Medical following its investor day as management unveiled a better-than-expected LRP, including 8-11% revenue and 12-17% CAGRs; the fruits of internal investments and a strategic shift towards higher growth, higher-margin recurring revenue sources. The analyst sees a path to multiple expansion and believes it has one of the best risk/rewards in the medtech space. Bednar reiterated his Outperform rating and $158 price target and elevated Varian Medical shares to a Fresh Pick.
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