Baxter International's (BAX) shares have bumped up against resistance at $60 over the past three months, but I'm reiterating my buy rating for the company's shares, first recommended on March 13, 2009, at a price of $51.16. Here's why:
Versatility remains Baxter's key. Baxter makes a variety of medical products across three divisions, including drugs and vaccines, dialysis equipment, and IV supplies. The company should record a FY2010 revenue increase of 7% to 10%, led by demand for recombinants, plasma proteins, and antibody therapies in its bioscience unit.
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