Analyst Craig Bijou of Bank of America Securities reiterated a Buy rating on RxSight (RXST – Research Report), reducing the price target to $36.00.
Craig Bijou’s rating is based on the potential for RxSight to re-rate higher due to its impressive mid-30s revenue growth and a clear path to profitability. Despite recent challenges, such as the stock’s decline and a tougher macro environment, Bijou believes that if RxSight can deliver solid quarterly performances, investor confidence will be restored, leading to a positive stock revaluation.
Furthermore, the company’s gross margin improvements and operational leverage are seen as significant factors that could help RxSight achieve EBITDA breakeven by 2026. Additionally, while international expansion is expected to contribute marginally in 2025, it remains a promising growth driver for the future. These elements, combined with a conservative gross margin guidance and potential international market approvals, underpin Bijou’s Buy rating for RxSight.
Bijou covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, Globus Medical, and RxSight. According to TipRanks, Bijou has an average return of 1.2% and a 42.38% success rate on recommended stocks.