Press release on Wavefront technology says VISX to have a hard time vs. others. Stock down $2 and change. Looks like a real falling knife! Here's the release:
"Preferred Capital Markets, Inc. Issues a Summary & Analysis Report On the Impact of Wavefront Technology on Laser Vision Correction
SAN FRANCISCO, Feb. 17 /PRNewswire/ -- The following is being issued by Preferred Capital Markets, Inc., a member of the National Association of Securities Dealers, CRD number 10993:
Preferred Capital Markets, Inc, a brokerage firm servicing both institutional and individual investors with a focus on technology, telecommunications and medical technology today issues a research report highlighting and providing analysis of the topics covered at the recently attended 1st International Congress of Wavefront Sensing and Aberration-Free Refractive Correction.
In a six-page overview, Kate Sharadin, senior analyst, and associate analyst Jason Mills suggest: "The race is on to perfect the latest surgical tool for laser vision correction -- Wavefront Technology. Inasmuch as the concept of improved visual outcomes and 'supervision' could capture the imagination and interest of patients, we conclude that custom ablation technology -- both Wavefront and Corneal Topography -- represents a marketing and advertising 'gold nugget' even in the LVC market of today. However, there is a prevailing level of promotion surrounding Wavefront technology; hence, such conditions could facilitate the fast-tracking of unproven techniques into clinical use before their advantages and shortcomings are clearly defined."
The analysts continued: "Our due diligence suggests that corneal topography technology would produce the best results in the short term linked to current next-generation laser systems. Therefore, we believe that LaserSight (Nasdaq: LASE) (LASE-Strong Buy-$11 5/16) and Bausch & Lomb (NYSE: BOL) (BOL-Not Rated-$59 1/8) could potentially lead the way in providing the first true benefits of custom ablation. Finally, we conclude from our surgeon surveys that VISX (Nasdaq: VISX) (VISX-Hold-$26) would have a difficult time due to its current technology platform, and Summit (Nasdaq: BEAM) (BEAM-Accumulate-$12 3/8) could eventually be a leader in Wavefront technology, but still must illustrate more compelling clinical data to support its efforts." |
