The Globe and Mail reports in its Tuesday, Oct. 24, edition that RBC Dominion Securities analyst Douglas Miehm is keeping his "outperform" recommendation for Bausch + Lomb intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Miehm gave his share target a $1 trim to $20 (all figures U.S.). Analysts on average target the shares at $21.05. Mr. Miehm believes that deteriorating foreign exchange headwinds will weigh on the third quarter financial expectations for Bausch + Lomb. Mr. Miehm says in a note: "We believe the strength of the U.S. dollar vs. the base quarter (Q3/22) will continue to act as a negative influence on reported segmental performance in Q3/23, although to different degrees. At the overall level for Bausch + Lomb, ex-U.S. revenues accounted for approximately 55 per cent of 2022 revenues (down from 57 per cent in 2021 due to weaker FX; FX headwinds were $184-million in FY22 or 5 per cent of revenues). Within the segments, ex-U.S. revenues are the highest for surgical (approximately 71 per cent), followed by contact lenses (64 per cent), consumer (54 per cent), and Rx (40 per cent). ... We expect FX headwinds to impact reported performance in FY24."