Canaccord upgraded Staar Surgical (STAA) to Buy from Hold with a price target of $27, up from $22. The company announced preliminary Q1 revenue of over $90M, well above estimates, the analyst tells investors in a research note. The firm believes Staar is benefitting from restocking post termination of the merger with Alcon. “This was exactly the news that investors were waiting for,” contends Canaccord. The firm cites “how cheap” the shares are and Staar’s progress in China for the upgrade.
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