Bausch + Lomb price target lowered to $21 from $22 at H.C. Wainwright

H.C. Wainwright analyst Yi Chen lowered the firm’s price target on Bausch + Lomb to $21 from $22 and keeps a Buy rating on the shares after the company completed the acquisition Xiidra from Novartis. The analyst believes Xiidra sales may grow at mid-single digit rate in the coming years. Together with eye and contact lens drops in the consumer brand franchises, Xiidra and Miebo should enable Bausch + Lomb to become a leading company in the growing dry eye disease market, the analyst tells investors in a research note.