National Vision stock price target raised to $33 at Jefferies

Jefferies raised its price target on National Vision Holdings (NASDAQ:EYE) to $33 from $22, maintaining a Buy rating, citing the potential of a biotech firm's (EYPT) anti-VEGF market drug and robust durability. This upgrade follows National Vision's strong Q2 2025 financial performance, which significantly exceeded market expectations with reported EPS of $0.18 against a $0.13 projection and revenue of $486.4 million compared to an anticipated $469.2 million. The stock has also seen a 120% return over the past year and is considered undervalued.

Analysis

Jefferies has increased its price target on National Vision Holdings (EYE) to $33.00 from $22.00, reaffirming a Buy rating. However, the analysis presented in the source article is critically flawed, as it conflates National Vision, an optical retailer, with EyePoint Pharmaceuticals (EYPT), a biotech firm. The rationale cited for the upgrade—involving the anti-VEGF market, a Phase 3 TKI insert, and wet age-related macular degeneration (wAMD) trials—pertains directly to EYPT's pipeline and not National Vision's business operations. The valid and material news for National Vision is its strong second-quarter 2025 financial performance, where it reported earnings per share of $0.18, significantly beating the $0.13 consensus, and revenue of $486.4 million, which surpassed the forecast of $469.2 million. This earnings beat, coupled with the stock's 120% return over the past year, provides a fundamental basis for positive sentiment, separate from the misattributed biotech analysis.

Key Decisions for Investors

• Investors should prioritize National Vision's strong Q2 2025 earnings beat as the key verifiable positive signal, as it directly reflects the company's fundamental operating performance.
• It is crucial to disregard the article's rationale for the Jefferies upgrade and seek the original analyst note to understand the true basis for the $33 price target, since the provided justification relating to EYPT is incorrect.
• Despite the flawed reporting, the combination of a significant price target increase and a strong earnings surprise warrants a closer look, but any investment decision should be contingent on independent verification of the analyst's thesis for EYE.