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ARAY - Accuray Is Seeing Green Shoots For Its Large China Opportunity
Accuray Incorporated
Accuray announced better than expected fiscal Q2 results, with the first revenue from its China Type A license backlog.
Orders remain erratic, but the backlog was up 11% yoy and stable sequentially, and management is making investment decisions that appear to signal meaningful future growth.
If Accuray can convince the Street that multiple years of high single-digit (if not double-digit) revenue growth is likely, the revenue multiple and share price could move a lot higher.