WST - Baxter Is A Buy At Current Valuation - We Call A Value Play Into 2021

• Recent correction and pullback in Baxter's price has turned the tables on valuation, thus presenting an exciting entry point.
• Current DCF valuation highlights a +5% value gap to the upside.
• Baxter has bounced off the long-term support line at least 5 times previously, and is currently being tested at the current support level.
• We firmly believe that the fundamental outlook coupled with the valuation elicits a bullish long term picture, which we have advocated previously.

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