Goldman Sachs Reiterates Neutral Rating on Baxter International (BAX)

Goldman Sachs analyst David Roman reiterated a Neutral rating and $36.00 price target on Baxter International (NYSE: BAX).

The analyst comments "Presenters: We hosted Joel Grade, EVP & CFO, and Clare Trachtman, SVP & Chief Investor Relations Officer, for a fireside chat, where key focus areas included: (1) strategy with particular focus on upcoming Kidney Care separation; (2) top-line trajectory through 2024; and (3) pathway to improved operating margins. Bottom line: We came out of the meeting confident in underlying operating fundamentals and continue to believe there is a path to ~17%+ operating margins by 2026 (GSe at 16.9%), driven by mix, improvements in supply chain dynamics (including moderating inflation), and price. Our confidence in organic revenue growth acceleration (GSe +4.4% in 2025E vs. 3.7% in 2024E, ex-Kidney Care) and operating margin expansion is balanced by a view that the decision to either spin or sell the Kidney Care business represents a significant pivot point, where we need clarity to take a more definitive stance on the stock."

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 $32.87 yesterday.

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