Staar Surgical upgraded to Buy from Neutral at BTIG

BTIG upgraded Staar Surgical to Buy from Neutral with a $46 price target. The company has reset numbers to the point that they are in a good spot to be beat with unit volume growth expectations essentially zero in fiscal 2024, the analyst tells investors in a research note. Further, the firm came away from multiple calls with ophthalmologists in China less concerned that implantable collamer lens competition will present a near-term headwind to Staar in China. BTIG thinks much of the weakness in China is priced into shares and says that if the Chinese economy and the Chinese refractive market prove better than feared, the shares “can work.” If Staar remains on track to expectations in other key outside the U.S. markets, the shares can also work from current levels, the firm adds.