ViewRay (VRAY) last night announced the signature of non-binding memoranda of understanding with Elekta AB (EKTAY) and Medtronic (MDT) as well as a common stock offering for $75M, Mizuho analyst Difei Yang tells investors in a research note. Elekta and Medtronic are taking stakes in ViewRay as part of the stock offering, the analyst points out. Yang views these announcements favorably and believes they are further validation of ViewRay's MRIdian technology in addition to removing its financing overhang. The analyst reiterates a Buy rating on the shares with a $9 price target.