Baxter Accelerates Out of a Summer-Long Trough

Filed under: Baxter Intl (BAX), Stocks to Buy

If you were patient this summer with Baxter International (BAX), first discussed here on March 13, 2009 at a price of $51.16, you've been rewarded, and I still like the shares here.



Baxter's shares were treated rudely in the spring by the street after the company lowered 2010 earnings guidance to $3.92 to $4.00 per share from the original $4.20 to $4.28 per share, with the shares plunging from about $60 to $40. (The company has since revised 2010 earnings guidance to $3.96 to $3.98 per share).



However, after that 33% stock swoon, and just when it looked like the $37 sell/stop loss would be triggered, BAX found support at $40 and has since moved smartly higher, including taking out key, psychological resistance at $50.

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Baxter Accelerates Out of a Summer-Long Trough originally appeared on BloggingStocks on Wed, 03 Nov 2010 16:30:00 EST. Please see our terms for use of feeds.

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