The Globe and Mail reports in its Friday, Feb. 23, edition that Citi analyst Joanne Wuensch continues to rate Bausch + Lomb "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Wuensch trimmed his share target by $1 to $20 (all figures U.S.). Analysts on average target the shares at $19.46. Mr. Wuensch says in a note: "Since its spin, Bausch + Lomb has been pushing up and to the left, increasing revenue, expanding the pipeline (through internal and external R&D), and improving margins. This was evident in the 4Q23, with revenue of $1.17-billion exceeding consensus's $1.11-billion, including: 1) vision/consumer of $662-million (up 8 per cent year-over-year); 2) surgical $204-million (up 7 per cent); and 3) Ophthalmic Rx of $307-million (up 66 per cent). Operating margins expanded to 16.1 per cent from 13.8 per cent year-over-year, and EPS of 24 cents (up 3.1 per cent) exceeded consensus's 17 cents. What was notable from the call was the momentum in the franchise, with management noting consistent themes of 'excitement and anticipation.' And that 4Q23 revenue growth exceeded expectations setting the tone for 2024. While management invests, 2024 margins should be more muted."