Baxter International Inc
BAX: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$81.00 | Hywhcfw | Grnfwvf |
Baxter Earnings: Profit Turnaround Starting on Improving Medical Utilization
Narrow-moat Baxter turned in fourth-quarter and full-year 2023 results that were roughly in line with our expectations. Positively, Baxter's 2024 outlook looks a bit stronger than we were anticipating, and we are keeping our $67 fair value estimate intact. However, shares may be reacting to a weak outlook relative to FactSet consensus, suggesting that some analyst estimates may decline, although our profit expectations are rising slightly on improving trends.