Fly News Breaks for March 4, 2020
Mar 4, 2020 | 16:27 EDT
Citi analyst Joanne Wuensch initiated coverage of Baxter International with a Neutral rating and $94 price target. While the company's pipeline is promising and cash flow generation "has been excellent," its uneven execution, the ongoing financial restatement process, and valuation warrants being on the sidelines, says the analyst.
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.