WF downgrades Bausch + Lomb on enVista recall giving a near-term uncertainty
Investing.com -- Wells Fargo downgraded Bausch + Lomb Corp to Equal Weight from Overweight on uncertainty from the voluntary recall of its enVista intraocular lenses (IOLs), which is expected to weigh on sales growth, earnings, and investor sentiment. Brokerage cut its price target to $15 from $24, based on 9.5x its 2026 EBITDA estimate of $1.0 billion.