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Fly News Breaks for September 4, 2018
Sep 4, 2018 | 08:23 EDT
Argus analyst Jasper Hellweg kept his Hold rating on Baxter but said he is looking for a "non-fundamental" pullback in the stock price to high $60's to justify a potential upgrade. The analyst cites the company's "substantially improved" profitability in recent quarters, noting that its new long-term financial goals suggest "continued margin and profit growth". Hellweg is also positive on Baxter's emphasizing geographic expansion and partnerships in drug distribution and development of generics, and also notes that its two main segments - Renal and Hospital Products - could be bolstered by acquisitions. The analyst further states that Baxter's 19% dividend increase indicates confidence in its business prospects.