Goldman Sachs Bullish on Baxter (BAX) Dividend Hike, Reiterates Top Rating
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Price: $26.73 -1.18%
Rating Summary:
12 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
12 Buy, 15 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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Analysts at Goldman Sachs are positive on Baxter International (NYSE: BAX) move to boost its dividend 34 percent this morning and approved a new $2 billion buyback.
"A combination of favorable capital allocation and accelerating revenue and EPS growth makes Baxter one of the most compelling large cap stocks in MedTech," the firm said.
In addition, the company consistent reinvestment in its business supports improved organic revenue growth and "should drive EPS growth to accelerate from 8.2% in 2013E to 12% in 2014E."
The firm raised their price target from $64 to $67 following the move and reiterated its Conviction Buy List rating.
price target of $67.00 (from $64.00)
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 $54.96 yesterday.
"A combination of favorable capital allocation and accelerating revenue and EPS growth makes Baxter one of the most compelling large cap stocks in MedTech," the firm said.
In addition, the company consistent reinvestment in its business supports improved organic revenue growth and "should drive EPS growth to accelerate from 8.2% in 2013E to 12% in 2014E."
The firm raised their price target from $64 to $67 following the move and reiterated its Conviction Buy List rating.
price target of $67.00 (from $64.00)
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 $54.96 yesterday.
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