Piper Jaffray Maintains OW Rating On BAX

Piper Jaffray is maintaining its OW rating on shares of Baxter International Inc. BAX. “Adjusted ‘apples-to-apples' US IVIG distributions improved again in February, up 10% vs. the prior year,” Piper Jaffray writes. “Growth among major players continues to be driven by share gains following Octapharma's withdrawal from the market in September and a general steady recovery in utilization which began in early 2010. “Recent trends in distribution data are confirmed by the solid US IVIG growth Q4 reported by Baxter and Talecris of 8% and 14%, respectively. We reiterate our Overweight rating and $63 price target, and remain buyers of the stock at current levels.” Baxter International closed Thursday at $53.09.