Baxter price target lowered to $22 from $25 at Stifel

Stifel lowered the firm’s price target on Baxter (BAX) to $22 from $25 and keeps a Hold rating on the shares following Q3 performance that the firm says “clearly was disappointing.” Looking ahead to rest of this year and 2026, management expects recent business pressures to continue and with these ongoing business pressures and a new CEO in place, the firm says it was “not completely surprised by the rest-of-2025 guidance cut.”