In a report published Monday, Morgan Stanley analyst David R. Lewis reiterated an Equal-Weight rating on Baxter International BAX, but lowered the price target from $80.00 to $75.00.
In the report, Morgan Stanley noted, “HyQ approval and 855 data have derisked the story, and we see value creation through the spin. However, consensus numbers still need to come down, despite our view that Advate estimates are achievable. On lower numbers, our price target falls to $75 from $80, and we remain Equal-Weight.”
Baxter International closed on Friday at $71.25.
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