Evercore ISI upgraded Bausch + Lomb to Outperform from In Line with a price target of $25, up from $19, after Financial Times reported that TPG and Blackstone are working on a joint bid for B+L and that formal bids are expected as early as the end of the month. FT is the first major news source to come up with specific details and the article noted that a deal is expected to be valued at up to $25 per share, notes the analyst, who is upgrading shares to Outperform on the potential for a sale.
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