Deutsche Bank keeps a Hold rating on Bausch + Lomb with an $18 price target following the JPMorgan conference update. Meaningful margin expansion is delayed until 2025 as Bausch + Lomb works through supply chain challenges and invests in product launches in 2024, which will be the biggest launch year in the company’s history, the analyst tells investors in a research note. The firm says the company’s cash flow will have some headwinds in 2024 as the company combats inflation, invests in its launches, and increases its inventory levels to mitigate supply chain challenges.
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