RBC Capital analyst Douglas Miehm raised the firm’s price target on Bausch Health (BHC) to $10 from $8.50 and keeps a Sector Perform rating on the shares ahead of the company’s Q3 report due after market close on October 30 following Bausch + Lomb’s (BLCO) Q3 results due before market open on the same day. The firm estimates Q3 revenue of $2.39B versus the FactSet consensus of $2.42B and adjusted EBITDA of $832M versus the FactSet consensus of $839M, noting that it expects the focus to be on the strategic priority relating to B+L following multiple unconfirmed news articles over the last month indicating that the company is working with advisers to test interest from potential buyers. The firm now includes a B+L sale scenario with 75% probability, driving its increased price target for Bausch Health shares.
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