Wells Fargo downgraded RxSight (RXST) to Equal Weight from Overweight with a price target of $9, down from $25. The firm admits to misjudging RxSight’s structural issues after the company reported “another disappointing quarter.” RxSight’s Q2 missed Street estimates by 16% as light adjustable lens trends deteriorated through the quarter, the analyst tells investors in a research note. Wells is now uncertain about the company’s future performance.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RXST:
- Closing Bell Movers: AES Corp jumps 14% on takeover possibility
- RxSight cuts FY25 revenue view to $120M-$130M from $160M-$175M
- RxSight sees Q2 revenue $33.6M, consensus $39.78M
- RxSight Re-elects Directors at Annual Meeting
- RxSight’s Positive Momentum and Strategic Growth Initiatives Support Buy Rating