Bausch & Lomb "sell," target price reduced

04/13/06 - Banc of America

NEW YORK, April 13 (newratings.com) - Analyst David Maris of Banc of America Securities reiterates his "sell" rating on Bausch & Lomb (BOL), while reducing his estimates for the company. The target price has been reduced from $49 to $40.

In a research note published this morning, the analyst mentions that ReNu MoistureLoc is unlikely to return to the US market this year. The analyst expects the company’s remaining lens care business to witness at least a 10% market share contraction in 2006. These factors would result in a slowdown in the growth of Bausch & Lomb’s contact lens business going ahead, Banc of America Securities says. The EPS estimate for 2006 has been reduced from $4.24 to $3.05.