Needham lowered the firm’s price target on Staar Surgical to $58 from $75 but keeps a Buy rating on the shares. The company’s Q2 ICL revenue just beat consensus, but a slower U.S. EVO launch and macro headwinds internationally resulted in a high single digit reduction to ICL revenue guidance despite continued strength in China, the analyst tells investors in a research note. Needham maintains however that Staar Surgical can see durable double-digit growth with improving profitability.
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Read More on STAA:
- Staar Surgical downgraded to Hold from Buy at Canaccord
- Staar Surgical reports Q2 EPS 12c, consensus 18c
- Staar Surgical price target lowered to $65 from $85 at Mizuho
- Staar Surgical price target lowered to $55 from $60 at Stifel
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