Credit Suisse puts Bausch & Lomb at underperform

Bausch & Lomb Inc. was rated at underperform with a target price of $71 by Credit Suisse analyst Ken Kulju on news that the company's Asian contact lens care business is expected to register about a $10 million sales shortfall due to adverse publicity associated with its ReNu sales suspensions in Singapore and Hong Kong. ReNu sales were suspended in those areas after a rare incidence of eye infection, linked to the Fusarium keratitis among certain contact lens wearers. Recent accounting audit difficulties have delayed Bausch & Lomb's release of fourth-quarter earnings; however, the analyst forecasts earnings of $1.18 for the quarter and $3.60 for the full-year 2005 (pre-option). Shares of the Rochester, N.Y., eye health products company were down $2.45, or 3.85%, at $61.25 on volume of 3,568,600 shares versus the three-month running average of 1,043,800 shares. (NYSE: BOL)

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