UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Baxter International

In a report published Friday, Deutsche Bank reiterated its Buy rating on Baxter International (NYSE: BAX), and slightly raised its price target from $62.00 to $63.00.

Deutsche Bank noted, “Baxter posted solid 2Q12 results and narrowed its 2012 guidance range with the mid-point coming in above the Street. Baxter also announced an agreement with Dutch fractionator Sanquin to supply an additional 1.6M liters of capacity by the end of 2016, with management suggesting IVIG growth was trending higher than the historical/expected 6%-8% range. No change to our view, we maintain Buy. We believe the investor day on October will likely be a positive catalyst for the stock as the company will outline its long range plan and provide an update on its pipeline.”

Baxter International closed on Thursday at $56.44.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.