Baxter International Inc

BAX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$64.00	Zswcmrn	Wfjkhykk

Baxter Earnings: Strong Underlying Trends Boost 2024 Outlook Further

Julie Utterback

Aug 6, 2024

Narrow-moat Baxter turned in strong second-quarter results, and management raised its 2024 outlook on those trends. However, slightly higher near-term expectations do not materially change our $67 fair value estimate. Shares remain steeply undervalued, in our opinion, especially in a rising medical utilization and cooling inflationary environment that looks likely to continue boosting Baxter's profitability in the intermediate term.

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