STAA - STAAR Surgical downgraded to neutral at BTIG on Chinese economy uncertainty

• BTIG has downgraded STAAR Surgical ( NASDAQ: STAA ) to neutral from buy, questioning whether the company can increase its market penetration in China to meet its fiscal 2023 guidance.
• The firm also withdrew its price target.
• Analyst Ryan Zimmerman said there are three variables to STAAR's ( STAA ) success in China: physicians, productivity, and price.
• He noted the company could potentially raise prices for Chinese consumers. Also, it could find more physicians to use its implantable collamer lens though a BTIG analysis found physician growth is not accelerating in China.
• "Our contention is that productivity is the key variable among the Chinese physician population that needs to increase to hit FY23 numbers," Zimmerman wrote.
• Read why Seeking Alpha contributor The Insiders Forum recently rated STAAR ( STAA ) a hold.

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