RxSight initiated with an Overweight, $36 price target at Morgan Stanley

As previously reported, Morgan Stanley analyst Patrick Wood initiated coverage of RxSight with an Overweight rating and $36 price target. The firm thinks post-refractive laser surgery patients could move from about 5%-10% of the cataract pool to about 30% and believes RxSight “appears to be the key winner of this trend” as the company provides a disruptive new type of light-adjustable IOL that works particularly well in post-refractive surgery patients. The firm thinks the company may be poised to meaningfully beat expectations, the analyst tells investors.