Canaccord Genuity Reiterates a 'Buy' on STAAR Surgical (STAA); Projecting Strong Growth
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Price: $8.64 +0.47%
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Canaccord Genuity reiterates a 'Buy' on STAAR Surgical (NASDAQ: STAA) price target of $14.50.
Analyst, Jason R. Mills, said, "We reiterate our rating and price target following bullish 2012 guidance, which leads us to increase our ICL sales and gross margin estimates in 2012, 2013 and 2014. Q4 results were solid where it counts, as we believe the quarter’s negatives – i.e., lower “other” revenue and higher non-recurring manufacturing expenses – pale in importance to the positives – i.e., ICL sales (+37% Y/Y; +32% in 2011) and GM (record 69.8% in Q4 vs. our 69.1%E; 2012 guidance of 71.0% vs. our 70.4%E). We believe ICL growth and GM expansion are the two most important drivers of revenue/EPS growth over the next three years, during which we model over 15%/90% CAGR, respectively."
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 $10.65 yesterday, with a 52 week range of $4.41-$11.79.
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Analyst, Jason R. Mills, said, "We reiterate our rating and price target following bullish 2012 guidance, which leads us to increase our ICL sales and gross margin estimates in 2012, 2013 and 2014. Q4 results were solid where it counts, as we believe the quarter’s negatives – i.e., lower “other” revenue and higher non-recurring manufacturing expenses – pale in importance to the positives – i.e., ICL sales (+37% Y/Y; +32% in 2011) and GM (record 69.8% in Q4 vs. our 69.1%E; 2012 guidance of 71.0% vs. our 70.4%E). We believe ICL growth and GM expansion are the two most important drivers of revenue/EPS growth over the next three years, during which we model over 15%/90% CAGR, respectively."
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 $10.65 yesterday, with a 52 week range of $4.41-$11.79.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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