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Fly News Breaks for December 17, 2019
BAX
Dec 17, 2019 | 08:02 EDT
As previously reported, Morgan Stanley analyst David Lewis downgraded Baxter to Equal Weight from Overweight with a price target of $88, down from $90. He sees less opportunities for upside in 2020 and believes reinvestment in increased quality spending may put 2020 LRP margin targets at risk. Though he does not expect the existing accounting investigation to broaden meaningfully, he still sees it as an overhang on shares, the analyst added.
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