UPDATE: Morgan Keegan Lowers Price Target on Baxter International to $60

According to Morgan Keegan, Baxter International (NYSE: BAX) price target is lowered to $60.

Morgan Keegan said that it is tempering its outlook on Baxter's 2012 growth rate, primarily due to a lower discount rate associated with the company's pension plan. “There is no change to our Outperform rating, although we are reducing our price target to $60 from $67.”

Baxter International closed yesterday at $49.03.