Fly News Breaks for December 17, 2019
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.
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.