Truist analyst Les Sulewski lowered the firm’s price target on Bausch Health to $7 from $8 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results in BioPharma. The management is denying allegations that it is considering a Chapter 11 filing, stating it is not mulling a bankruptcy or insolvency proceeding of any kind, the analyst tells investors in a research note. Last quarter, the company noted that the favorable Xifaxan ruling is a “significant milestone” towards a potential separation of Bausch+Lomb (BLCO), but if a potential bankruptcy takes place, it would place the separation on hold as creditors reassess the situation, the firm added.
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