Needham analyst David Saxon has maintained their neutral stance on BLCO stock, giving a Hold rating on October 31.
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David Saxon has given his Hold rating due to a combination of factors surrounding Bausch + Lomb Corporation’s current market position and future prospects. The company is set to host an Investor Day, where management is expected to discuss their pipeline and financial targets for 2028. Saxon anticipates these targets to align closely with or slightly exceed market consensus. However, despite potentially positive updates, there is no immediate catalyst anticipated that could significantly increase the company’s valuation in the short term.
Additionally, Bausch + Lomb’s price-to-earnings ratio is positioned between its peers, ALC and COO, indicating a balanced risk/reward scenario. The lack of clarity regarding a complete separation from its parent company, Bausch Health, further contributes to the cautious outlook. As a result, Saxon believes that maintaining a Hold rating is prudent given the current circumstances and market conditions.
Saxon covers the Healthcare sector, focusing on stocks such as DENTSPLY SIRONA, Bausch + Lomb Corporation, and Align Tech. According to TipRanks, Saxon has an average return of -0.1% and a 36.72% success rate on recommended stocks.
In another report released on October 31, Barclays also maintained a Hold rating on the stock with a $17.00 price target.