Accuray’s Strategic Leadership and Financial Performance Drive ‘Buy’ Rating with $5 Price Target

Marie Thibault, an analyst from BTIG, maintained the Buy rating on Accuray. The associated price target remains the same with $5.00.

Marie Thibault has given her Buy rating due to a combination of factors including recent leadership and governance changes at Accuray, which are expected to drive sustainable and profitable growth. The appointment of Steve La Neve as the new President and CEO, along with the strategic transformation plan initiatives, aims to position the company for improved financial performance in the coming years.
Additionally, Accuray’s preliminary fiscal first-quarter financial results showed total revenues exceeding consensus expectations, despite some challenges in product revenues in certain regions. The company’s efforts to expand its market presence and launch product innovations under the leadership of Suzanne Winter, who will remain in an advisory role, also contribute to the positive outlook. Thibault’s valuation of Accuray with a $5 price target reflects confidence in the company’s potential to achieve higher adjusted EBITDA margins over the medium to long term.