Staar Surgical price target lowered to $58 from $75 at Needham

Needham lowered the firm’s price target on Staar Surgical to $58 from $75 but keeps a Buy rating on the shares. The company’s Q2 ICL revenue just beat consensus, but a slower U.S. EVO launch and macro headwinds internationally resulted in a high single digit reduction to ICL revenue guidance despite continued strength in China, the analyst tells investors in a research note. Needham maintains however that Staar Surgical can see durable double-digit growth with improving profitability.