Baxter International Inc

BAX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$72.00	Xxvbnh	Cvprlyy

Baxter Delivers Strong Q3 With Higher-Than-Expected Margins; No FVE Change

Julie Utterback

Oct 28, 2021

Baxter reported strong third-quarter results, including higher margins than we were expecting. Even after mildly increasingly our near-term profit assumptions, though, our $86 fair value estimate has not changed materially. We continue to view Baxter's moat as narrow and built on its essential dialysis and injectable therapies, which have both intangible assets and switching costs as moat sources.

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