Needham analyst David Saxon has maintained their neutral stance on BLCO stock, giving a Hold rating today.
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David Saxon has given his Hold rating due to a combination of factors observed during Bausch + Lomb Corporation’s Investor Day. The company’s management shared long-term revenue growth targets that aligned with expectations and indicated potential upside in adjusted EBITDA margins. Despite these positive indicators and a promising product pipeline with potential peak sales of $7 billion, Saxon remains cautious. The lack of a clear catalyst for immediate multiple expansion in the stock price has led to the decision to maintain a Hold rating. Saxon acknowledges the company’s stable growth outlook but sees no immediate factors that would significantly boost the stock’s valuation in the near term.
In another report released today, Barclays also maintained a Hold rating on the stock with a $17.00 price target.