BLCO Stock Forecast & Price Target

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.

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.