Baxter price target lowered to $63 from $64 at Barclays

Barclays analyst Matt Miksic lowered the firm’s price target on Baxter to $63 from $64 and keeps an Overweight rating on the shares. The macro backdrop remains challenging for medical supplies and devices and the timing for improvements in inflationary pressures, supply chain issues and hospital staffing challenges is uncertain, Miksic tells investors in a research note. However, the analyst remains "generally constructive" on the sector, seeing improving volume trends, stable staffing challenges, and "potentially stabilizing" supply chain and inflationary cost trends. He continues to favor names with operating leverage or "discontinuous and favorable tailwinds, as they are generally better positioned to weather higher input costs."