KeyBanc analyst Matthew Mishan lowered the firm’s price target on Baxter to $60 from $73 on reduced visibility, while keeping an Overweight rating on the shares. While the firm’s analysis reflects conservative assumptions, KeyBanc acknowledges visibility is limited and certain components are educated "guestimates." As 2023 progresses, the firm anticipates opportunities for investors to become more comfortable with the moving pieces, with the next datapoint being the Q4 earnings call on Thursday.
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