Baxter price target raised to $80 from $72 at Piper Jaffray

Piper Jaffray analyst Matt O’Brien raised his price target for Baxter International to $80 after the company’s Q4 results topped expectations on both the top- and bottom-lines. The primary drivers of the revenue beat in the quarter were the company’s Renal Care, Pharma, Advanced Surgery and Acute Therapies, O’Brien tells investors in a research note. Further, he believes Baxter’s domestic Medication Delivery and Nutrition businesses stabilized during the quarter “with progress made towards restoring demand to pre-hurricane levels.” The analyst remains constructive on the stock and reiterates an Overweight rating.
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