logo
Plus   Neg
Share
Email

Bausch Health Soaring On Upgrade By Piper Jaffray

Shares of Bausch Health Companies Inc. (BHC) have moved sharply higher over the course of the trading session on Wednesday, surging up by 9.6 percent. Bausch continues to recover after hitting an eight-month closing low on Christmas Eve.

The rally by Bausch comes after Piper Jaffray upgraded its rating on the drugmaker's stock to Overweight from Neutral and raised its price target to $27 per share from $22 per share.

"Though we have been unrelentingly negative on the company for years (at least up until a few months ago), we believe it is time to turn the page following a closer look at the business," said Piper Jaffray's David Amsellem.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Viacom Inc. and AT&T Inc. said Monday they have reached a new carriage deal, averting a programming blackout that would have left AT&T's more than 24 million pay-TV customers without Viacom channels such as MTV, Comedy Central, Paramount and Nickelodeon. The renewed agreement will keep these Viacom channels on AT&T's DirectTV and U-verse pay TV services. Tribe, a blockchain accelerator backed by Singapore government, announced its partnership with BMW Group Asia, Intel and Nielsen. Tribe Accelerator said the three companies will share their knowledge and subject expertise in their respective fields with Tribe's startups. The companies will help build an inclusive ecosystem "ready for industry 4.0." MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing.
Follow RTT