BUZZ-Jefferies starts coverage on Rxsight with 'buy' on growth potential

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BUZZ-Jefferies starts coverage on Rxsight with 'buy' on growth potential

Reuters03-24

** Brokerage Jefferies starts coverage on ophthalmic medical device company Rxsight RXST.O with "buy" rating and sets PT at $50

** New PT more than double the stock's last close

** Brokerage says RXST's competitive moat is strong, with significant growth potential and minimal competition expected in the next 5 years

** Sees upside in the company's light adjustable lenses (LALs) used in cataract surgery; says the procedure is highly profitable for surgeons

** LALs allow post-implantation adjustments unlike traditional lenses

** 8 out of 10 brokerages rate the stock "buy" or higher, 2 rate "hold" and median PT is $43 - LSEG data

** RXST stock down 51% in the past 12 months

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com;))

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