12:29 PM EDT, 05/02/2024 (MT Newswires) -- Despite Bausch + Lomb ( BLCO ) reporting Q1/24 results that were ahead of consensus estimates (~3%/~2% ahead on revenue/adj. EBITDA, respectively) and reiterated 2024 guidance (higher organic growth offset by incremental FX headwinds), the stock closed lower, writes RBC Capital.

While Xiidra performance was poor, this shortfall was offset by the material Miebo launch outperformance.

"We believe the commentary from parent (BHC) on a potential separation/distribution of BLCO will drive the near-term stock performance of BLCO."

Reiterate Outperform, US$18 target.

Price: 18.36, Change: -0.54, Percent Change: -2.86