Varian begun by Leerink Swann at market outperform

Varian Medical Systems, Inc. coverage was initiated with a market outperform rating by Leerink Swann & Co. analyst Jason Wittes. Wittes said he believes that Palo Alto, Calif.-based supplier of equipment and software to treat cancer is on the cusp of a new product cycle with Image Guided Radiation Therapy and should grow earnings at a 17% compound annual rate over the next three to five years. Shares of Varian were down $0.10, or .27%, at $37.60 on volume of 2,213,700 shares versus the three-month running average of 842,835 shares.

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