Lensar initiated with a Buy at Lake Street

Lake Street initiated coverage of Lensar with a Buy rating and $8 price target. Lensar, which is commercializing its ALLY femtosecond laser system for more precise, efficient, and faster cataract surgeries, is currently a minority player in the $1B-plus existing femtosecond laser assisted cataract surgery, or FLACS, market, the analyst tells investors. The firm thinks investors are overlooking Lensar’s superior value proposition and ability to drive cataract centers’ cash flow, adding that it expects continued competitive market disruption “will result in a buyout of LNSR shares.”