Staar Surgical initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Staar Surgical with an Equal Weight rating and $35 price target. The firm values Staar at a valuation in-line with other fast growing MedTech peers in the 15-20% growth range, the analyst tells investors. While Staar differentiates itself by being more profitable than most, the firm feels this is partly offset by country risk premium for the lower visibility in the China market, the analyst added.