Wells Fargo Initiates Coverage of Staar Surgical (STAA) with Equal Weight Rating | STAA Stock News

3 days ago

Wells Fargo has begun coverage of Staar Surgical Co. (STAA, Financial), assigning it an Equal Weight rating along with a price target of $17. The assessment highlights several uncertainties related to the company's performance, particularly in its Chinese market.

Approximately half of Staar Surgical's sales come from China, making it a significant market for the company's Implantable Collamer Lens products. However, sales have been declining sharply due to weakened consumer demand and issues with distributor sales to hospitals.

In addition to these challenges, Wells Fargo remains cautious about the U.S. market conditions for Staar Surgical. The firm notes that growth expectations in the U.S. are considered "lofty" and expresses skepticism regarding the company's fiscal 2025 guidance, seeing limited opportunities for substantial improvement.

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