As previously reported, Leerink analyst Danielle Antalffy upgraded Baxter to Outperform from Market Perform as she believes post-spin "new" turnaround story still has room for significant upside given six consecutive "beat and raise" EPS quarters, operating margin already tracking ahead of management's current long-range plan, and increasingly strong free cash flow generation. While the analyst believes the incremental margin upside potential is already priced in, the magnitude of sales growth reacceleration and potential free cash flow generation is still underappreciated. Antalffy also raised her price target on the shares to $64 from $54.