12:46 PM EDT, 10/22/2024 (MT Newswires) -- Bausch + Lomb's ( BLCO ) management is expected to focus on the potential sale of the company and its investments in its dry eye disease, or DED, drugs Miebo and Xiidra when it reports its Q3 financial results, RBC Capital Markets said in an earnings preview Tuesday.

"We will look for incremental color from management on potential timing of the ongoing [sale] process," RBC said in the note. However, management is not expected to provide potential valuation ranges, the firm added.

RBC also said it expects the company to announce new products and provide updates on potential supply disruptions at its facilities in Florida after the recent hurricanes.

The company is set to report Q3 earnings on Oct. 30, with RBC estimating revenue at $1.18 billion, slightly above consensus of $1.17 billion, and adjusted EBITDA at $219 million, below the expected $222 million.

The firm said it sees a 75% probability of a sale scenario, with a $23 per share valuation based on recent news reports, and includes this in its price target.

RBC raised its price target on Bausch + Lomb's ( BLCO ) stock to $23 from $20 and maintained an outperform rating.

Shares of the company fell 3% in recent trading.

Price: 20.05, Change: -0.63, Percent Change: -3.05