Standpoint Research Downgrades Baxter International (BAX) to Hold; Another Round of Taking Profits

July 19, 2012 11:19 AM EDT
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Price: $46.47 -0.64%

Rating Summary:
    11 Buy, 14 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 33 | New: 34
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Standpoint Research downgraded Baxter International (NYSE: BAX) from Buy to Hold.

Analyst, Ronnie Moas, said, "Baxter is a name I like to trade especially when I am looking to hedge high beta could have bought this at $50 and sold at $60 five times in the last five years. Sometimes it pays to keep things simple and not over-analyze...BAX shares were oversold in late May and are now fairly valued at 13X trailing twelve months earnings. BAX reported this morning and are trading +1.2% (as of 10:30am). I am concerned with the risk/reward in the near term with this market so BAX may remain a good hedge for a bit longer."

For an analyst ratings summary and ratings history on Baxter International click here. For more ratings news on Baxter International click here.

Shares of Baxter International closed at $56.17 yesterday.

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