Bausch + Lomb reinstated with an Underperform at BofA

BofA analyst Craig Bijou reinstated coverage of Bausch + Lomb (BLCO) with an Underperform rating and $18 price target A private equity takeout seems less likely following the Financial Times report that Blackstone (BX) backed out of a consortium looking at the potential acquisition over price, the analyst tells investors. While a deal may still be possible at a lower price or with another firm, BofA believes the news suggests a takeout is not imminent and would expect it to rekindle investor concerns on the timing/likelihood of the spin.