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Fly News Breaks for October 24, 2019
BAX
Oct 24, 2019 | 15:23 EDT
Piper Jaffray analyst Matt O'Brien maintained an Overweight rating and $95 price target on Baxter after the company reported "OK" Q3 results that missed on revenue slightly, and announced "an investigation into certain fx-related accounting transactions that may result in material adjustments to the current and prior years' EPS." While the analyst believes the announcement will remain an overhang on the stock until it more is known or it is resolved, he is confident in the company's long-term outlook " given the improving secular and business trends in renal, U.S. med delivery, and pharma."
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