Market Overview

UPDATE: Bank of America Raises PT to $70 on Baxter International; Gambro Strategic Fit at Steep Price

Related BAX
Dan Loeb Sees Yellen In 'Hotel California,' Is Short More Stocks Than He Is Long
Earnings Scheduled For October 27, 2015
Biotechs Weaken, But These Names Have Bullish Charts (Investor's Business Daily)

Bank of America reiterated its Buy rating on Baxter International (NYSE: BAX) and increased its price target from $67 to $70.

Bank of America commented, "On Friday the Wall Street Journal and several other media outlets reported that BAX is in talks to acquire privately held Gambro for $4bn (BAX's market cap is $38bn). Gambro is the #2 share player in the hemodialysis technology market where BAX has little presence, and BAX is #1 in the peritoneal dialysis market where Gambro has no presence. In our view, in the hands of BAX, Gambro would be a much tougher HD competitor and a strong strategic fit, with the potential for significant synergies, but a $4bn price tag creates a very high hurdle for positive returns in our view."

Baxter International closed at $67.18 on Friday.

Latest Ratings for BAX

Nov 2015Piper JaffrayAssumesOverweight
Oct 2015Leerink SwannMaintainsMarket Perform
Aug 2015BarclaysMaintainsOverweight

View More Analyst Ratings for BAX
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (BAX)

View Comments and Join the Discussion!

Get Benzinga's Newsletters