RBC Capital Upgrades Bausch Health (BHC) to Outperform; 'Will Likely Be a Very Different Co. a Year from Now'

February 17, 2021 5:13 AM EST
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Price: $29.12 --0%

Rating Summary:
    19 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 5 | Down: 14 | New: 57
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(Updated - February 17, 2021 6:59 AM EST)

RBC Capital analyst Doug Miehm upgraded Bausch Health Companies (NYSE: BHC) from Sector Perform to Outperform with a price target of $42.00 (from $26.00), saying it will likely be a very different company ~12 months from now/.

The analyst comments "We believe Bausch will transform materially over the near to mid-term with coincident re-rating and critical deleveraging driving value creation. In this report, we provide an in-depth review of the potential B +L spin-off and upgrade BHC to Outperform from Sector Perform, with our price target increased to $42 from $26. We have been on the sidelines for more than five years but now see the path to the expected B+L spin and implications of possible divestitures providing near-term upside potential."

For an analyst ratings summary and ratings history on Bausch Health Companies click here. For more ratings news on Bausch Health Companies click here.

Shares of Bausch Health Companies closed at $31.32 yesterday.

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