Needham Reiterates Hold Rating on STAAR Surgical (STAA)

Needham analyst David Saxon reiterated a Hold rating on STAAR Surgical (NASDAQ: STAA).

The analyst commented: "This morning, STAA announced it did not receive the necessary votes to approve ALC’s proposed acquisition for $30.75 per share. Inside, we take a closer look at STAA’s fundamentals and estimate what fair value is in the absence of an acquisition bid. Net, we are cautious on STAA’s fundamentals given a lack of recovery in China and believe the risk/reward skews negative over the near-term. Given this, we maintain our Hold rating."

For an analyst ratings summary and ratings history on STAAR Surgical click here. For more ratings news on STAAR Surgical click here.

Shares of STAAR Surgical closed at $23.94 yesterday.

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