12:42 PM EDT, 05/03/2024 (MT Newswires) -- Bausch Health ( BHC ) reported Q1 EBITDA that was weaker than expected and also provided little incremental visibility on the Bausch + Lomb separation beyond the former noting that the Norwich court decision was a "significant milestone related to the full separation" and that it remains a priority.

RBC Capital's David Miehm says that "while we await moves on the strategic front, we expect the shares to remain range bound."

Target cut by US$1, to US$10 on decreased weighting of the BLCO distribution scenario from 60% to 50%.

Maintain Sector Perform.

Price: 11.09, Change: +0.04, Percent Change: +0.36