Canaccord lowered the firm’s price target on Staar Surgical (STAA) to $22 from $30.75 and keeps a Hold rating on the shares after the company entered into a cooperation agreement with its largest shareholder, Broadwood Partners, and shareholders rejected the Alcon deal. Due to the development, Canaccord shifted its valuation framework back to Staar’s standalone fundamentals rather than the Alcon deal price.
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Read More on STAA:
- Staar Surgical price target lowered to $22 from $30.75 at Canaccord
- Staar Surgical reshapes board under new investor agreement
- Alcon terminates deal to acquire Staar Surgical
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