RBC Capital Upgrades Bausch Health (BHC) to Outperform; 'Will Likely Be a Very Different Co. a Year from Now'
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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."
Shares of Bausch Health Companies closed at $31.32 yesterday.
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