B.Riley Starts Varex Imaging (VREX) at Buy

B.Riley analyst Kyle Bauser initiates coverage on Varex Imaging (NASDAQ: VREX) with a Buy rating and a price target of $21.00.

The analyst comments: "We are initiating coverage of Varex Imaging Corp. (VREX) with a Buy rating and a $21 price target. VREX is a leading designer and manufacturer of X-ray components for use in medical diagnostic imaging, security inspection systems, and other industrial applications. The company's competitive advantage is its expertise in designing, building, and assembling highly complex components that are able to withstand extreme conditions. VREX has faced significant macro headwinds, particularly China and destocking trends, although we believe these will become tailwinds by 2025, making the setup compelling, particularly as the stock trades at 0.8x EV/2025E sales and at 7.0x EV/EBITDA vs. peers at 2.6x and 11.7x, respectively."

For an analyst ratings summary and ratings history on Varex Imaging click here. For more ratings news on Varex Imaging click here.

Shares of Varex Imaging closed at $11.56 yesterday.

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