Fly News Breaks for December 2, 2019
Dec 2, 2019 | 09:25 EDT
Piper Jaffray analyst Matt O'Brien believes Baxter International's acquisition of the Seprafilm Adhesion Barrier product and related assets from Sanofi (SNY) is a "solid addition" at "reasonable price." Shares of Baxter have recovered a bit from the Q3 financial misstatement disclosure but still have much farther to go and today's deal "should assist in the recovery," O'Brien tells investors in a research note. He keeps an Overweight rating on the shares with a $95 price target.
News For BAX From the Last 2 Days
Sep 21, 2021 | 13:43 EDT
Raymond James analyst Jayson Bedford resumed coverage of Baxter (BAX) with an Outperform rating and $93 price target. He blames a slowdown in gross margin improvement and slower revenue growth for relative stock price underperformance, but views the Hill-Rom (HRC) deal as "opportunistic" and sees revenue growth and accretion tied to the deal making Baxter "a far more interesting story," Bedford tells investors. The deal to buy Hill-Rom gives him more confidence that Baxter can grow revenue at about 5% pro-forma and will have "visible 10%+ EPS growth," added Bedford.