Stifel Downgrades RxSight Inc. (RXST) to Hold

Stifel analyst Tom Stephan downgraded RxSight Inc. (NASDAQ: RXST) from Buy to Hold with a price target of $40.00 (from $65.00).

The analyst comments: "We are downgrading RXST shares from Buy to Hold, supported by our latest deep-dive survey of 46 LAL-trained surgeons. Our diligence leads us to believe risk from US premium IOL competition may be more material than investors appreciate, with JNJ’s new Tecnis Odyssey lens jumping off the page in our survey and ALC’s PanOptix Pro around the corner. Furthermore, our longitudinal analysis shows the respondents’ 2025 LAL/LAL+ volume expectations are moderately weakening, giving us pause around the intermediate-term LAL path ahead. Several positives still exist within our checks and long-term fundamentals remain intact—and although shares have pulled back recently, we listen to the diligence and move to the sidelines: (a) on competition-driven LAL uncertainty in the intermediate-term; (b) ahead of OUS efforts ramping, which we believe may be slow/methodical, challenging, and costly; and (c) as our US LDD cautiousness from our mixed July survey diligence persists."

For an analyst ratings summary and ratings history on RxSight Inc. click here. For more ratings news on RxSight Inc. click here.

Shares of RxSight Inc. closed at $38.19 yesterday.

You May Also Be Interested In

• Morgan Stanley Starts Sampo Oyj (SAMPO:FH) (SAXPY) at Equalweight
• Jefferies Starts Buzzi Unicem SpA (BZU:IM) (BZZUY) at Hold
• RBC Capital Downgrades Woolworths Group Ltd (WOW:AU) to Underperform