Canaccord Genuity Reiterates a 'Buy' on STAAR Surgical (STAA); Attractive Small-cap Growth Idea
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Price: $24.66 +0.08%
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
Rating Summary:
4 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 9 | New: 24
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Canaccord Genuity reiterates a 'Buy' on STAAR Surgical (NASDAQ: STAA) price target of $14.50.
Analyst, Jason R. Mills, said, "STAAR hosted several activities leading into the ASCRS meeting, including a cocktail reception for surgeons, an analyst meeting, and in-booth presentations. We were able to get granularity on the company’s US practice development plans as well as upcoming OUS drivers, which bolster our confidence in STAA as an attractive small-cap growth idea."
"If STAA is able to achieve our estimates, the stock deserves a multiple commensurate to this rarified group, in our view. In sum, we assign a 6x EV/sales multiple to 2014E revenue of $100M, discounted back two years at 6.5%, to reach our $14.50 year-end target. We also note that the company has approximately $128M worth of net operating loss carry-forwards, which equates to approximately $3.50/share."
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 $11.00 yesterday.
Analyst, Jason R. Mills, said, "STAAR hosted several activities leading into the ASCRS meeting, including a cocktail reception for surgeons, an analyst meeting, and in-booth presentations. We were able to get granularity on the company’s US practice development plans as well as upcoming OUS drivers, which bolster our confidence in STAA as an attractive small-cap growth idea."
"If STAA is able to achieve our estimates, the stock deserves a multiple commensurate to this rarified group, in our view. In sum, we assign a 6x EV/sales multiple to 2014E revenue of $100M, discounted back two years at 6.5%, to reach our $14.50 year-end target. We also note that the company has approximately $128M worth of net operating loss carry-forwards, which equates to approximately $3.50/share."
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 $11.00 yesterday.
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