Morgan Stanley has upgraded Bausch + Lomb (BLCO) to an overweight rating from equal-weight, highlighting the company's promising ophthalmology assets. The bank raised its price target to $21, indicating a potential 27% upside from the December 1 closing price. Analyst Patrick Wood noted that the company's peak sales estimates, including $7 billion for its pipeline projects, may be conservative. Notably, libvatrep, a phase 2 candidate for ocular surface pain, could achieve $1.4 billion in peak sales by 2030. Additionally, bioactive contact lenses and the glaucoma treatment BL1107 show significant market potential.
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