UPDATE: Morgan Keegan Raising Price Target On Baxter (BAX)

Morgan Keegan is raising its price target on shares of Baxter International Inc. BAX to $62 from $60, and it has a Buy rating on shares. In a note to clients, Morgan Keegan writes, "Data from the Plasma Proteins Therapeutics Association (PPTA), which was released on March 24, suggested that supply of IVIG may be tightening due to an unexpected 7% sequential drop in US distribution in February. As a follow-up to the PPTA data release, we have conducted a proprietary survey of 55 collection centers in the US to gain some insights into the current dynamics for plasma donations. Our survey results indicate a general tightening in IVIG supply based on visible efforts to increase plasma collections, especially at Baxter-owned centers. These findings suggest a continued stabilization in the IVIG market. Consequently, we are raising our price targets for Baxter and Haemonetics shares to $62 from $60 and $73 from $71, respectively. There are no change to our Outperform ratings." Shares of BAX gained 14 cents on Friday to close at $53.91.