UPDATE: Piper Jaffray Raises PT on Baxter International to $68

Piper Jaffray is out with its report today on Baxter International BAX, raising its PT from $63 to $68. In a note to clients, Piper Jaffray writes, "We've upped our target from $65 to $68 ahead of the quarter and will evaluate the potential for additional upward revisions based on Q2 results and the forthcoming approval and launch of new products. We remain bullish on BAX and buyers ahead of Q2 results, and expect sentiment and stock performance to continue to improve driven by a steady stream of positive catalysts and the annualization of the challenges which impacted the company's business throughout 2010." Piper Jaffray maintains Overweight on BAX. Shares of BAX closed Friday at $60.80, down 0.31% from Thursday's close.