Bausch Health holders pay ‘price’ for ‘irresponsible journalism,’ says Jefferies

Jefferies notes that the report from Reorg regarding a potential bankruptcy that Bausch Health (BHC) had to come out and deny yesterday reminds the firm of the April Wall St Journal article that insinuated that one of Zoetis’ (ZTS) drugs, Librela, was killing dogs as “both situations were unfounded” and unfortunately shareholders pay a near-term price as companies “have little recourse in these instances” of “irresponsible journalism.” The firm, which notes that quarterly results haven’t been a significant driver of the stock of late, but adds that it expects “solid results” when the company reports Q2 results next week, has a Buy rating and $13 price target on Bausch Health shares.