Bausch + Lomb price target raised to $20 from $17 at RBC Capital

RBC Capital analyst Douglas Miehm raised the firm’s price target on Bausch + Lomb to $20 from $17 and keeps an Outperform rating on the shares ahead of its Q4 results. Currency headwinds in Q4 are expected to be lower than previously anticipated, but they will likely be offset by China-related factors where the lifting of zero-COVID policy resulted in increased cases and hospitalizations, the analyst tells investors in a research note. The firm adds that its higher price target is based on the re-rating in Bausch + Lomb’s key eye-care peers.