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Fly News Breaks for August 9, 2019
VRAY
Aug 9, 2019 | 07:28 EDT
Cantor Fitzgerald analyst Craig Bijou lowered his price target for ViewRay to $6 from $13 saying the "light" orders in Q2 and reduced guidance disappoint. The weak orders, install delays and increased expected cash burn "naturally raise concerns," Bijou tells investors in a research note. That said, the analyst remains positive on ViewRay long term and expects the investment into the business over the past year to drive adoption of the MRIdian.
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