Bausch + Lomb price target lowered to $18 from $20 at RBC Capital

RBC Capital lowered the firm’s price target on Bausch + Lomb to $18 from $20 and keeps an Outperform rating on the shares ahead of its Q1 results next week. The focus for the quarter will be on Xiidra and Miebo and other new launches, the analyst tells investors in a research note, noting that the IQVIA TRx trends indicate a strong launch for Miebo but continued weak performance for Xiidra. RBC adds that it has reduced its price target largely to reflect the de-rating of comps and to a lesser degree our updated outlook.