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Fly News Breaks for November 2, 2018
BAX
Nov 2, 2018 | 07:19 EDT
Argus analyst Jasper Hellweg upgraded Baxter to Buy from Hold with a price target of $70 after its better than expected Q3 results, noting that the company has demonstrated "substantially improved profitability in recent quarters" even though the shares have recently underperformed. The analyst notes that the sell-off has taken valuation below industry average levels, even as the Baxter management expressed confidence that the company will recover and return to its long-term growth rate over the next few quarters.
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