November 5, 2018 / 12:19 PM / a year ago

BUZZ-Bausch Health: Rises on MS upgrade a day ahead of results

** Bausch Health’s U.S.-listed shares up ~2 pct at $24.70 premarket after Morgan Stanley raises to “overweight” from “equal-weight”

** MS expects BHC to return to revenue and EBITDA in 2020, new product sales ramps to boost investor enthusiasm, and debt paydown to enhance equity value over time

** MS says potential stock drivers for the Canadian pharma co also includes Q3 results on Tuesday, as well Q4 results and 2019 guidance in Feb

** Brokerage is 5 pct above Street estimates for Q3 EBITDA and 11 pct higher on EPS

** MS sets PT of $32, ~33 pct higher than last close and $5 more than Wall St’s median PT of $27 - Refinitiv data

** Six analysts covering BHC rate it “buy” or “strong buy”, 7 rate it “hold” and 4 “sell” or “strong sell”

** YTD, BHC has risen 16.3 pct, more than double the S&P 500 health index’s gain

** Its Canadian listed shares have risen ~21 pct, while the S&P TSX health index has gained about 9 pct (Reporting by Agamoni Ghosh)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below