Accuray downgraded to Underweight from Neutral at JPMorgan JPMorgan downgraded Accuray to Underweight after the company pre-announced Q2 results that dramatically missed expectations. The firm believes a company turnaround, if possible, is a multi-year process.
Accuray backs FY16 revenue view of $395M-$410M, consensus $404.6M Adjusted EBITDA is expected to range between $25M-$35M. Accuray continues to expect that gross orders for the fiscal year will be approximately $295M, which would represent a 10% increase year over year. This financial guidance is unchanged from that provided on January 11.