Baxter International rated Hold with limited upside due to weak infusion recovery and margin challenges.

Baxter International maintains a Hold rating with a $25 target price, reflecting a modest 2.6% upside. The company shows revenue growth driven by Advanced Surgery and compounding, but faces structural challenges in infusion solutions and supply issues with Novum IQ LVP. Margins lag behind revenue growth, with cost reductions and inventory normalization expected to help, though transition expenses and debt reduction will remain priorities through 2027. Despite trading at a discount to sector multiples, concerns over weak infusion recovery and ongoing expenses justify the cautious outlook.

Baxter International (BAX) trades at USD 25.00 on Pluang as of Oct 13, 2026 18:12 WIB, close to its $25 target price but still below its 52-week high of $28.35. The stock has gained 0.89% in the last day and remains well above its 52-week low of $15.80. Despite a modest dividend yield of 0.16%, the typical hold time of 73 days suggests steady investor interest amid ongoing margin and operational challenges.