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Investing.com - TD Cowen has reduced its price target on Baxter International (NYSE:BAX) to $22.00 from $26.00 while maintaining a Hold rating on the medical products company. According to InvestingPro data, Baxter is currently trading near its 52-week low and appears undervalued based on InvestingPro’s Fair Value assessment.
The price target cut follows Baxter’s third-quarter revenue of $2.82 billion, which fell short of the $2.88 billion consensus estimate, despite showing 2% operational growth compared to the company’s guidance of 3-4%. Baxter’s total revenue over the last twelve months stands at $10.89 billion with a modest 3.6% growth rate.
Infusion sales declined by 4%, negatively impacted by the Novum ship hold and ongoing softness in U.S. IV solutions, according to TD Cowen’s analysis.
Baxter has reduced its full-year operational sales guidance to 1-2% from its previous guidance of 3-4%, which itself was lowered from an initial 4-5% forecast before the second quarter.
The company has also lowered its earnings per share guidance and significantly cut its dividend, factors that contributed to TD Cowen’s decision to maintain its Hold rating while reducing the price target.
In other recent news, Baxter International reported its third-quarter 2025 earnings, showcasing an earnings per share (EPS) of $0.69, which exceeded the forecasted $0.60. However, the company’s revenue for the quarter fell short of expectations, totaling $2.84 billion compared to the anticipated $2.88 billion. Stifel has responded to these developments by lowering its price target for Baxter International to $22.00 from $25.00, maintaining a Hold rating. The firm cited ongoing business pressures and guidance cuts for the remainder of 2025 as reasons for this adjustment. Stifel also revised its 2025 earnings estimates toward the lower end of Baxter’s EPS guidance range. Additionally, the firm reduced its 2026 sales growth estimate to 1.9% year-over-year due to continued NOVUM/IV headwinds. Furthermore, Stifel lowered its 2026 EPS projection to $2.20 from the previously expected $2.63. These updates reflect the challenges Baxter International is facing as it navigates its financial landscape.
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