Standpoint Research Downgrades Baxter International (BAX) to Hold

Standpoint Research downgraded Baxter International (NYSE: BAX) from Buy to Hold with a price target of $59.00.

The firm comments, "As I wrote in my January 5 note pasted below … BAX is a name that trades in a range … you could have gone in-and-out of BAX four times in the last four years at the same price points each time. It is a name that should be bought at ~ $47-$52 and sold at $57-$62. We were not looking for much out of this name. The target we set was $59 with 18.8% upside over a 12-18 month time frame. We have captured 80% of that in just six weeks and can no longer leave our highest recommendation attached to this name."

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 $56.84 yesterday.

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