<p>Needham 分析师 David Saxon 对 BLCO 股票维持中性立场，于 4 月 23 日给予持有评级。</p>
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<p>David Saxon 给予持有评级是由于与运营表现和公司结构相关的多种因素。他承认 2026 年第一季度的收入超出预期，部分得益于有利的外汇因素，EBITDA 也超出了市场共识。他还指出，制药部门表现优异，Xiidra 展现出超出预期的增长势头，现在预计将实现低双位数的增长，而不是之前假设的中位数增长。</p>
<p>与此同时，Saxon 强调，得益于严格的销售和管理费用支出，年同比的利润率扩张表明业务效率正在改善。尽管年初的表现积极，但他仍然保持中性立场，因为关于 Bausch + Lomb 计划与其母公司 Bausch Health Companies 分离的情况仍然不够明确。这种结构性不确定性抑制了其他积极的基本面，使他决定维持持有评级，而不是转向更果断的评级。</p>
<p>在 4 月 23 日发布的另一份报告中，巴克莱也重申了对该股票的持有评级，目标价为 20.00 美元。</p>

BLCO

<p>Needham 分析师 David Saxon 对 Bausch + Lomb (BLCO) 股票维持持有评级，原因是第一季度表现强劲，包括收入和 EBITDA 超出预期，以及制药部门的积极势头。然而，关于公司计划从 Bausch Health Companies 分拆的相关不确定性使这一前景受到影响。巴克莱也重申了持有评级，目标价为 20.00 美元</p>

<p>Needham analyst David Saxon has maintained their neutral stance on BLCO stock, giving a Hold rating on April 23.</p>
<div class="lb-trans"><p>Needham 分析师 David Saxon 对 BLCO 股票维持中性立场，于 4 月 23 日给予持有评级。</p>
</div><h3>Claim 55% Off TipRanks</h3>
<div class="lb-trans"><h3>在 TipRanks 上享受 55% 折扣</h3>
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<li>Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions</li>
<li>Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks</li>
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<div class="lb-trans"><ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以做出更聪明、更精准的决策</li>
<li>发现表现优异的股票投资理念，并升级到市场领先者的投资组合，使用智能投资者精选</li>
</ul>
</div><p>David Saxon has given his Hold rating due to a combination of factors tied to both operating performance and corporate structure. He acknowledges that first-quarter 2026 revenue exceeded expectations, helped in part by favorable foreign exchange, and that EBITDA also surpassed consensus. He also notes that the pharmaceuticals division outperformed, with Xiidra demonstrating stronger-than-anticipated momentum and now projected to deliver low double-digit growth instead of the previously assumed mid-single-digit pace.</p>
<div class="lb-trans"><p>David Saxon 给予持有评级是由于与运营表现和公司结构相关的多种因素。他承认 2026 年第一季度的收入超出预期，部分得益于有利的外汇因素，EBITDA 也超出了市场共识。他还指出，制药部门表现优异，Xiidra 展现出超出预期的增长势头，现在预计将实现低双位数的增长，而不是之前假设的中位数增长。</p>
</div><p>At the same time, Saxon highlights that year-over-year margin expansion, supported by disciplined SG&amp;A spending, points to improving efficiency across the business. Despite this constructive start to the year, he keeps a neutral stance because there is still insufficient clarity around Bausch + Lomb’s planned separation from its parent, Bausch Health Companies. This structural uncertainty tempers the otherwise positive fundamentals, leading him to maintain a Hold rather than move to a more decisive rating.</p>
<div class="lb-trans"><p>与此同时，Saxon 强调，得益于严格的销售和管理费用支出，年同比的利润率扩张表明业务效率正在改善。尽管年初的表现积极，但他仍然保持中性立场，因为关于 Bausch + Lomb 计划与其母公司 Bausch Health Companies 分离的情况仍然不够明确。这种结构性不确定性抑制了其他积极的基本面，使他决定维持持有评级，而不是转向更果断的评级。</p>
</div><p>In another report released on April 23, Barclays also reiterated a Hold rating on the stock with a $20.00 price target.</p>
<div class="lb-trans"><p>在 4 月 23 日发布的另一份报告中，巴克莱也重申了对该股票的持有评级，目标价为 20.00 美元。</p>
</div>

Bausch + Lomb: Solid Q1 Beat and Pharma Momentum Offset by Spin-Off Uncertainty, Supporting Hold Rating

博士伦：第一季度表现优异，制药业务的增长势头抵消了分拆带来的不确定性，支持维持持有评级