Staar Surgical price target lowered to $55 from $60 at Stifel

Stifel lowered the firm’s price target on Staar Surgical to $55 from $60 and keeps a Hold rating on the shares. Shares have sold off by about 20% since late-May, which began with fears of a June China COVID wave and continued more recently with concerns over management’s $30M 2023 U.S. ICL sales target, which was omitted from their latest investor presentation, the analyst tells investors. After having performed a valuation deep dive given the selloff, Stifel believes “downside risk in the stock still exists,” but likely not below about $40 per shares.