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Tuesday, H.C. Wainwright reaffirmed its Buy rating on Bausch & Lomb Corp. (NYSE:BLCO) with a steady price target of $23.00. The firm’s analyst, Yi Chen, adjusted the company’s revenue projections ahead of its fourth-quarter and full-year 2024 financial results announcement, set for tomorrow. The revision reflects anticipated negative impacts from foreign exchange rates on the company’s 2024 and 2025 revenues.
Chen reduced the fourth-quarter and full-year 2024 revenue estimates to $1,261 million and $4,772 million respectively. This adjustment also led to a decrease in the projected adjusted EBITDA for the same periods, now expected to be $251 million for the fourth quarter and $852 million for the full year. Furthermore, the analyst lowered the 2025 revenue forecast to $5,015 million. Despite current challenges, InvestingPro analysis reveals strong revenue growth of 18% over the last twelve months, with additional ProTips available for subscribers.
The reassessment follows recent news that Bausch + Lomb ’s efforts to go private through acquisition by a third-party buyer did not come to fruition at this time. As a result, the company will continue to operate independently and pursue its own strategic plans and business objectives.
Chen’s commentary highlighted the upcoming financial results and the decision to maintain a Buy rating on the company’s stock. Investors and market watchers are now looking forward to Bausch & Lomb’s financial disclosures to gauge the company’s performance and future outlook.
In other recent news, Bausch + Lomb Corporation has been making strategic moves aimed at bolstering its market position and future revenue. The company recently concluded its search for a third-party buyer without securing a transaction. Instead, it will focus on operating independently and continuing its current business strategies and plans. Bausch + Lomb is also set to release its fourth-quarter and full-year earnings for 2024 soon, alongside its financial guidance for the fiscal year 2025.
In a significant development, Bausch + Lomb acquired Whitecap Biosciences, LLC, a company focused on developing therapies for glaucoma and geographic atrophy. This acquisition expands Bausch + Lomb’s portfolio with promising investigational drugs.
Financial services company Jefferies has described Bausch + Lomb as an undervalued asset, suggesting a potential takeout price of $25 per share. This valuation was based on an updated leveraged buyout model, which suggests a possible internal rate of return of approximately 21% over a five-year period.
Lastly, Bausch + Lomb’s stock retained a Buy rating from H.C. Wainwright following the acquisition of Elios Vision, Inc., a company specializing in the development of a minimally invasive surgery for treating glaucoma. These recent developments reflect the company’s commitment to growth and innovation in the eye health sector.
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