RxSight downgraded to Hold from Buy at Stifel

Stifel downgraded RxSight (RXST) to Hold from Buy with a price target of $40, down from $65. The firm’s latest deep-dive survey of surgeons leads to believe that the risk from U.S. premium IOL – intraocular lens – competition may be more material than investors appreciate, with JNJ‘s (JNJ) new Tecnis Odyssey lens “jumping off the page” in its findings and with Alcon’s (ALC) PanOptix Pro around the corner, the analyst tells investors in a research note. Stifel adds that its longitudinal analysis shows the respondents’ 2025 LAL – light adjustable lenses – volume expectations are moderately weakening, giving the firm pause around the intermediate-term LAL path ahead.