Bausch + Lomb

BLCO · NYSE

$17.47+$0.04 (+0.23%)TodayMarket closed · Oct 23, 7:32 PM ET

Prev close $17.43

BLCO analyst rating

BuyConsensus of 13 analysts over the last 12 months. 54% rate it a buy.

Strong buy0
Buy7
Hold6
Underperform0
Sell0

12-month price target · 15 analysts

Average $19.85 (+13.6% upside)

Low: $16.16
Now: $17.47
High: $25.20

Upgrades and downgrades

The latest rating actions, newest first

BLCO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 7, 2026	Initiates	Overweight	$24.00	70%
Needham	Sep 15, 2026	Maintains	Hold	—	40%
Leerink Partners	Sep 9, 2026	Initiates	Outperform	$24.00	58%
HC Wainwright & Co.	Aug 28, 2026	Maintains	Buy	$21.00	40%
HC Wainwright & Co.	Aug 3, 2026	Maintains	Buy	$20.00 → $21.00	40%
UBS	Jul 30, 2026	Maintains	Buy	$21.00 → $23.00	48%
UBS	Jul 28, 2026	Initiates	Buy	$21.00	48%
Citigroup	Jul 8, 2026	Maintains	Buy	$19.00 → $21.00	60%
Evercore ISI Group	Jul 6, 2026	Maintains	In-Line	$16.00 → $17.00	54%
Citigroup	Apr 30, 2026	Maintains	Buy	$21.00 → $19.00	60%

The case for and against

Updated Oct 23, 2026

Bull case

Bausch & Lomb is well positioned because its three segments are benefiting from differentiated products that are taking share in attractive, above-market categories, especially MIEBO in dry eye, premium daily contact lenses, and premium IOLs. The company’s 2026 outlook also points to improving economics, with revenue projected to grow 7.9% and EBITDA at $1.2Bn, supported by mix shift toward higher-margin offerings and operating leverage. With over 100 eye-care products, durable growth in under-penetrated markets, and a pipeline that includes a phase 3-bound dual-action dry eye drop plus BL1332, the business has multiple catalysts that support further revenue, margin, and EBITDA momentum.

Bear case

Bausch & Lomb is viewed negatively because multiple growth drivers could miss expectations, including MIEBO sales versus the FY2026 guide, weaker consumer demand in OTC products, and softer contact lens demand in a market that grows only 4%-6% annually and still sees ~20%-25% first-year discontinuation. Its Surgical segment also looks vulnerable if premium IOL gains stall, since that would pressure mix and margins, while the long-dated bioactive contact lens pipeline could disappoint on efficacy, safety, or manufacturing and weaken the company’s expected growth and margin expansion. Despite a broad portfolio and projected next-12-month sales per share of $15.86, adjusted EBITDA of $3.03, and net debt of $13.26 per share, the company remains exposed to product uptake risk, regulatory setbacks, and dilution risk.

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