UPDATE: Stifel Nicolaus Initiates Baxter International at Hold; Looking for Better Entry

Stifel Nicolaus initiated coverage on Baxter International BAX with a Hold rating. Stifel Nicolaus said, "We view BAX as one of the better positioned companies in our universe of large-cap Medical Technology & Supply stocks in its ability to deliver consistent sales and earnings growth over the next two-three years. Still, at current share price levels, even with now lowered concerns regarding competition from Biogen Idec's (BIIB ($141.24) Buy, covered by our colleague Joel Sendek) longer acting rFVIII program, we believe that in order for the stock to move above the $70 level, we would require greater revenue upside beyond our currently modeled assumptions." Baxter International closed at $66.02 on Monday.