Bausch + Lomb moved to No Rating at BofA amid M&A reports

BofA moves to No Rating on Bausch + Lomb following multiple reports this week from the Financial Times that reported that B+L is exploring a potential sale of the company and has reportedly drawn interest from private equity groups. FT reported yesterday morning that a handful of private equity groups have held meetings with B+L management in recent weeks and suggested that preliminary bids could come as early as later this week, notes the analyst, who contends that the stock is no longer trading on fundamentals as a result of the news reports that have sent shares up 29% this week.