Wedbush Reiterates Outperform on Varian Medical Systems (VAR)

Wedbush is out with its report today on Varian Medical Systems VAR, reiterating Outperform. In a note to clients, Wedbush writes, "We added Varian Medical to the list of our top recommendations in February because of VAR's leadership in the attractive markets for radiation oncology systems and x-ray imaging technologies and because VAR demonstrates superior growth within the med tech industry. For FY11, we project sales of $2.6 billion (+11%) and EPS of $3.47 (+17%). For FY12, we project sales of $2.87 billion (+10%) and EPS of $3.90 (+12.5%). We believe there is potential for significant upside to our numbers for next year as VAR's new oncology products, TrueBeam and proton therapy, enhance the business mix." Wedbush maintains an $80 PT on VAR. Shares of VAR closed Friday at $70.20, down 0.37% from Thursday's close.