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Highlights
• Barclays lowered Baxter International’s price target from USD 41 to USD 36.
• Multiple brokerages issued revised targets, with ratings spanning sell to buy.
• Current price suggests significant upside potential based on updated projections.

Baxter International Inc. (NYSE: BAX) has seen a wave of analyst activity following a series of price target revisions. Barclays recently cut its price target for the medical instruments supplier from USD 41.00 to USD 36.00, while maintaining an “overweight” rating on the stock. Based on the company’s previous closing price, the updated target implies a potential upside of roughly 60.64%.

Other investment banks and equity research firms have also revised their outlooks on Baxter International. Citigroup dropped its target to USD 32.00 with a “neutral” rating in a July 9th note. Goldman Sachs downgraded the stock from “buy” to “neutral” and set a USD 25.00 target, while Wells Fargo & Company lowered its price objective to USD 24.00 with an “equal weight” stance. UBS Group issued a similar USD 24.00 target and “neutral” rating. Wall Street Zen also revised its outlook, moving Baxter from a “buy” to a “hold” rating.

Baxter International recently reported quarterly earnings for the period ended July 31st. The company posted earnings per share of USD 0.59, slightly below the consensus estimate of USD 0.60. Revenue came in at USD 2.81 billion, narrowly missing the expected USD 2.82 billion but reflecting a 4.3% year-over-year increase. Return on equity was reported at 16.93%, while the firm posted a negative net margin of 1.42%. For the full year, research analysts anticipate Baxter International will report earnings of approximately USD 2.48 per share.