Wells Fargo downgraded Bausch + Lomb (BLCO) to Equal Weight from Overweight with a price target of $15, down from $24. The company’s announced enVista recall due to an increased number of reports of toxic anterior segment syndrome creates near-term uncertainty, which is expected to weigh on sales growth and earnings along with investor sentiment, the analyst tells investors in a research note. The firm adds however that its industry check suggests that the issue may be the fluid around the lens and should be fixable.
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