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National Vision double upgraded at BofA on signs strategic initiatives working

As previously reported, BofA upgraded National Vision (EYE) to Buy from Underperform with a price target of $22, up from $13, citing multiple signs that the company’s strategic initiatives begun in Q4 of 2024 are working. The firm is applying a higher multiple given its view that National Vision’s strategic initiatives have reduced downside risks and increased potential for upside against its 2026 adjusted EBITDA estimate of $192M, which is up from a prior $180M forecast.

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