Bausch Health Companies (BHC) PT Lowered to $35 at Cowen

Cowen analyst Ken Cacciatore lowered the price target on Bausch Health Companies (NYSE: BHC) to $35.00 (from $40.00) while maintaining a Outperform rating following results.

The analyst commented, "Q3 revs reached $2.05B, in line, driven by recovery in all major segments including Salix, Solta, and International. Nonethless, the focus remains on Xifaxan's durability and we continue to believe the largest hurdle for a potential generic exclusivity trigger will be if Norwich can meet the stringent product-specific ANDA guidance for approval issued by the FDA, which could take years."

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