Piper sees Bausch Health as 'stand out' after management meeting
Piper Jaffray analyst David Amsellem reiterates an Overweight rating on Bausch Health Companies with a $27 price target after meeting with management. The analyst says commentary from the company reinforced his view that Bausch will continue to "stand out among the broader group of highly-levered specialty pharma names." Management has high visibility into not only longer-term EBITDA stability but meaningful long-term growth, Amsellem tells investors in a research note. Significant growth from the gastroenterology franchise along with modest growth from the dermatology and eye care segments should translate into a long-term annual EBITDA growth at least in the mid-single digits, says the analyst.