Wells Fargo upgrades RxSight to Overweight, raises price target to $42

As previously reported, Wells Fargo analyst Larry Biegelsen upgraded RxSight to Overweight from Equal Weight with a price target of $42, up from $31. The firm believes RxSight’s light adjustable lens technology for cataracts has reached an inflection point and its new LAL+ will expand the market in 2024. Additionally, RxSight seems to be insulated from GLP-1 concerns that have impacted other MedTech stocks, Wells adds.