Loop Capital analyst Anthony Chukumba upgraded National Vision to Buy from Hold with an unchanged $23 price target. The company "struggled mightily" in 2022 and provided much worse-than-expected 2023 guidance, but its current headwinds – most notably, a difficult U.S. macroeconomic environment that is hurting out-of-pocket eyeglass sales and optometrist shortages – are temporary, the analyst tells investors in a research note. National Vision’s continued rollout of remote eye exams will not only help alleviate the company’s current optometrist coverage issues but will provide a long- term competitive advantage, Loop Capital added.
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