Goldman Sachs Reinstates Baxter International (BAX) at Neutral

Goldman Sachs reinstates coverage on Baxter International (NYSE: BAX) with a Neutral rating and a price target of $80.00.

Analyst Eleanor Fung, Ph.D said, "While we are increasingly confident in our bullish view on the company’s core hemophilia franchise (22% of sales), a lack of visible upside drivers leads us to view the risk/reward as balanced. Over the next several quarters, we see the debate on Baxter mostly focused on defensive elements of the business, navigating the timing and magnitude of generic competition in Fluid Systems and closely monitoring how the recombinant hemophilia business progresses in light of Biogen Idec’s US launch. We would expect the focus on Baxter to shift toward top-line growth accelerators and margin expansion opportunities moving into 2H15+."

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 $73.92 yesterday.

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