Staar Surgical initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of Staar Surgical (STAA) with an Equal Weight rating and $17 price target The firm sees ongoing uncertainties around the company’s recovery in China alongside its “lofty” U.S. growth expectations. Staar’s China business, which is over 50% of sales, is seeing a steep deceleration in Implantable Collamer Lens sales, largely driven by weak consumer demand and challenges with distributor sell-through to hospital customers, the analyst tells investors in a research note. Wells also remains cautious of “weak” U.S. market conditions and sees limited upside to Staar’s fiscal 2025 guidance.