Wachovia Keeps 'Outperform' on Visx

The FDA approved the company's new laser correction treatment

Wachovia reiterated outperform on Visx (EYE ).

Analyst Theodore Huber says marginally better clinical outcomes, and physician support of new technology will drive the commercial success of the commercial LASIK procedure. He expects considerable media attention, and additional local advertising by surgeons to stimulate new demand. Huber says channel checks indicate LASIK interest has been building since the end of the Iraq war, amid a rebound in consumer confidence. He expects custom LASIK to drive profit and cash flow growth well in excess of consensus.

Huber sees 38 cents 2003 earnings per share, and 68 cents for 2004. He has a $20 to $22 target.

Before it's here, it's on the Bloomberg Terminal.