Staar Surgical price target lowered to $16 from $40 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Staar Surgical (STAA) to $16 from $40 and keeps a Neutral rating on the shares. The firm says Staar reported full Q4 results that missed on the top and bottom lines. Management set FY25 guidance well below where the Street was at prior to the call with China expected to decline in the mid-30s range for the full year. All in, while the stock undeniably looks cheap, the firm stays on the sidelines given lack of visibility in a China turnaround.