Canaccord Genuity analyst John Young CFA maintained a Hold rating on Staar Surgical (STAA – Research Report) yesterday and set a price target of $28.00.
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John Young CFA has given his Hold rating due to a combination of factors impacting Staar Surgical. The company’s recent financial performance, particularly the significant revenue miss in its largest market, China, has presented challenges. The unexpected shortfall was attributed to macroeconomic difficulties that have heavily reduced demand for their products in this region.
Despite these headwinds, the company has shown resilience in other areas, with steady performance outside China and positive growth projections in the US market. However, due to the macroeconomic uncertainties and expected continued financial strain in the coming quarters, the Hold rating reflects a cautious stance. The company is expected to manage expenses carefully and believes the current downturn is temporary, which could provide future growth opportunities once resolved.
Young CFA covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, Staar Surgical, and AngioDynamics. According to TipRanks, Young CFA has an average return of 21.3% and a 73.91% success rate on recommended stocks.
In another report released today, Mizuho Securities also downgraded the stock to a Hold with a $17.00 price target.