Bank of America Merrill Lynch Reiterates Buy Rating, $70 PO on Baxter International

In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating and $70 price objective on Baxter International (NYSE: BAX).

BofA Merrill Lynch noted, “Some reasons we see to own BAX are: 1) The core markets Baxter's bioscience business competes in have attractive fundamentals that should sustain mid-single-digit growth over the long term, and 2) market sentiment is recovering and BAX should be able to capitalize as cyclical market pressures improve through in 2012.”

Baxter International closed on Tuesday at $65.22.

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