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Fly News Breaks for February 2, 2018
BAX
Feb 2, 2018 | 08:37 EDT
Cowen analyst Joshua Jennings noted Baxter's Q2 guidance implied a headwind to operating margins and the shares sold off. The analyst believes the selloff was an overreaction and unwarranted, though, as he believes the guidance could be conservative and it will not disrupt the company's multiyear margin progress. Jennings maintained his Market Perform rating and raised his price target to $78 from $68 on Baxter shares.
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