UPDATE: Citigroup Reiterates Neutral Rating, Lowers PT on Baxter International on Lowered Estimates

In a report published Monday, Citigroup analyst Matthew J. Dodds reiterated a Neutral rating on

, but lowered the price target from $75.00 to $70.00. In the report, Citigroup noted, “We have (finally) added in Gambro and have fine-tuned our forecasts for the generic risks to Suprane and Endoxan, which have taken a back seat to Advate but should be more impactful next year. While we were already well below Street views, our analysis now includes more specific modeling of the margin hit for each of these changes and we have lowered our estimates further.” Baxter International closed on Friday at $66.00.