U.S. stocks edge higher; solid earnings season continues
Investing.com - Stifel maintained its Hold rating and $12.00 price target on Bausch & Lomb Corp. (NYSE:BLCO) on Thursday.
The research firm expressed concerns about the company’s competitive position in key growth markets, including silicone hydrogel daily contact lenses and premium intraocular lenses.
Stifel specifically highlighted its cautiousness regarding Bausch & Lomb’s ability to "compete/execute effectively in incremental markets" while simultaneously achieving margin expansion over the long term.
The dry eye treatment market was singled out as a particularly notable area where the firm has reservations about Bausch & Lomb’s competitive capabilities.
The $12.00 price target remains unchanged from Stifel’s previous valuation of the eye health company’s shares.
In other recent news, Bausch + Lomb Corporation has announced the pricing of €675 million in senior secured floating rate notes due 2031, an increase from the initially planned €600 million. The company intends to use the proceeds from this offering, along with funds from a $2.325 billion new term B loan facility, to refinance its existing credit agreements. This financial maneuver aims to repay outstanding borrowings and refinance loans due in 2027. Additionally, Barclays (LON:BARC) analysts have lowered their price target for Bausch + Lomb to $16, citing a reduction in projected EBITDA and earnings per share estimates. The analysts attribute these changes to the anticipated impact of the Inflation Reduction Act and other factors. Meanwhile, Bausch + Lomb has launched new eye care products, Blink Nourish and Blink Boost, in the United States, expanding its Blink range of eye drops. The company also held its Annual Meeting of Shareholders, where ten directors were elected, and executive compensation was approved. PricewaterhouseCoopers LLP was appointed as the auditor until the 2026 Annual Meeting.
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