UPDATE: Barrington Research Upgrades Varian Medical Systems

According to a research report published this morning, Barrington Research has upgraded Varian Medical Systems VAR from Market Perform to Outperform. In the report, Barrington Research commented, "At the risk of being early, we are upgrading VAR from MARKET PERFORM to OUTPERFORM as we believe radiation therapy and radiation surgery are proven, effective and efficient and already a standard of care therapy for the treatment of many types of otherwise hard to treat or hard to access tumors. We believe VAR is the proven technology and market leader in each of its respective markets. It is an early leader in proton therapy, international penetration for radiation therapy systems is low and VAR's balance sheet and cash flow yield are amongst the more attractive names in the medical device space." Barrington Research maintains its $79 PT on Varian Medical Systems, which closed yesterday at $64.57.