Bausch & Lomb downgraded to "neutral"

04/11/06 - Robert W. Baird

NEW YORK, April 11 (newratings.com) - Analysts at Robert W Baird downgrade Bausch & Lomb Incorporated (BOL) from "outperform" to "neutral," while reducing their estimates for the company. The target price has been reduced from $87 to $48.

In a research note published this morning, the analysts mention that the company has recently announced the temporary suspension of its US shipments of ReNu with MoistureLoc lens care solution. The analysts say that there are increased expectations of an association between the lens care solution and a rise in fungal infections in the recent past. The EPS estimates for 2006 and 2007 have been reduced from $3.95 to $2.65 and from $4.59 to $2.96, respectively.