Valeant Pharmaceuticals International (VRX) is climbing on Friday, thanks to a bullish note from Stifel.
Analyst Annabel Samimy and her team reiterated a Buy rating and $55 price target on the stock today. She acknowledges that the company faces headwinds in a number of its franchises, but writes that its Bausch+Lomb (B+L) brand appears “to be positioning the company for a stronger presence in the lens market.”
Stifel recently surveyed optometrists, finding that they displayed strong enthusiasm for B+L’s new toric and multifocal products (expected to enter the market later this year or early 2017. Moreover, the brand is showing signs of cannibalization of its competitions, a trend she sees accelerating with the new launches.
Valeant Bausch+Lomb outlook upbeat, says Stifel After surveying optometrists, Stifel says that the outlook for the company's Bausch & Lomb unit is positive. The firm says that the unit appears to be gaining market share and should get a boost from its upcoming new product launches. Stifel keeps a $55 price target and Buy rating on the stock.