Bausch + Lomb initiated with an Equal Weight at Barclays

Barclays analyst Matt Miksic initiated coverage of Bausch + Lomb with an Equal Weight rating and $17 price target. Bausch’s "strong brands" in contact lenses, vision care and ophthalmic pharma will likely deliver solid growth in 2023, Miksic tells investors in a research note. However, there a "several key events which may significantly impact stock performance over the next 12 months," including the spinoff timing, approval, launch and initial traction of NOVO3 for dry eye, and the management transition, says the analyst.