Bausch + Lomb price target lowered to $11 from $17 at BofA

BofA lowered the firm’s price target on Bausch + Lomb (BLCO) to $11 from $17 and keeps an Underperform rating on the shares. EBITDA missed by 23%, primarily because of the enVista recall inventory write off and a slowdown in the U.S. generics business, and B+L lowered its FY25 EBITDA guidance by $50M at the midpoint to $850M-$900M, noted the analyst, who also points out that the lower guidance does not include tariffs. The firm lowered its 2025 and 2026 EPS views to 31c and 64c from 62c and 91c, respectively, and cites lower peer multiples as well as a lower EBITDA estimate for its revised target.