JPMorgan double downgraded RxSight (RXST) to Underweight from Overweight with a price target of $17, down from $40. The company preannounced a Q1 miss and lowered 2025 guidance as a result of various market and competitive challenges, the analyst tells investors in a research note. The firm says market, economic, and competition-related challenges are “disrupting” RxSight’s momentum and the timing for resolving its issues. JPMorgan says it hasn’t heard the same sort of commentary on acute market challenges from RxSight’s peers, calling into question whether the dynamics are market-wide or RxSight specific.
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