Baxter (BAX) Shares Fall as Citigroup Downgrades to Sell, Lowers Target to $17

Baxter International (NYSE:BAX) shares dropped 1% on May 29, 2026, after Citigroup downgraded the stock to Sell from Neutral and cut its price target to $17 from $19. Analyst Joanna Wuensch cited a more cautious view on the company’s prospects, signaling an expectation of near-term underperformance. The lower target reflects diminished confidence, and the downgrade pressured shares to $19.15. Baxter is down 1.8% year-to-date and trades 39.6% below its 52-week high of $31.72 set in June 2025.