UPDATE: Bank of America Reiterates Buy Rating, Lowers PT on Baxter International on Mixed Factors

In a report published Monday, Bank of America analyst Bob Hopkins reiterated a Buy rating on

, but lowered the price target from $84.00 to $80.00. In the report, Bank of America noted, “Some reasons we see to own BAX are the core markets Baxter's bioscience business competes in have attractive fundamentals that should sustain mid-single-digit growth over the long term and the recently announced spin could potentially create value. However, increasing competition keeps us cautious.” Baxter International closed on Friday at $72.91.