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Fly News Breaks for October 8, 2019
BAX
Oct 8, 2019 | 06:52 EDT
After spending time with management, JPMorgan analyst Robbie Marcus has a "high level of confidence" in Baxter International's ability to reach its 2020 long-range plan targets that call for accelerating sales growth and 200 basis points of operating margin expansion in 2020. The U.S. government's initiative to move dialysis patients into the home could double Baxter's ~$500M Peritoneal Dialysis business over the next few years, Marcus tells investors in a research note. The analyst also sees potential upside from the company's "unlevered" balance sheet. He reiterates Baxter as his top large-cap pick with an Overweight rating and $94 price target.
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