Morgan Stanley Maintains Equal-Weight Rating for Baxter Intl: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating on Baxter Intl (NYSE:BAX) but lowered its price target from $45.00 to $39.00. Baxter Intl's shares are currently trading down at $36.15, which is 1.09% lower than the last 24 hours. The new price target suggests a potential upside of 7.88% from the current price. Baxter, known for its medical instruments and supplies, acquired Hillrom in 2021, enhancing its hospital-focused offerings. The company plans to spin off its kidney failure treatment operations in 2024.
December 04, 2023 | 5:00 pm
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Morgan Stanley has maintained an Equal-Weight rating on Baxter Intl but reduced the price target from $45.00 to $39.00. The stock is currently trading down, and the new target indicates a potential rise of 7.88%.
The reduction in price target by a major analyst firm like Morgan Stanley can have a short-term negative impact on investor sentiment. However, the new target still suggests an upside, which could indicate a potential recovery in the stock price. The recent acquisition of Hillrom and the planned spinoff in 2024 are strategic moves that may be viewed positively in the long term but have less immediate impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100