This morning, RBC Capital downgraded shares of both Baxter International (NYSE:BAX) and Johnson & Johnson (NYSE:JNJ), lowering its rating from outperform to sector perform. In the report, RBC noted that Baxter is seeing increased competition in the sector which could weigh on margins going forward. RBC also said that while Johnson & Johnson will see above-average growth, it is not as compelling of a buy as others in the sector. In the report, RBC set a $73 price target on shares of Baxter International and a $104 price target on Johnson & Johnson. Shares of BAX were trading lower on Tuesday morning, falling 0.5%, while JNJ was following the market higher, gaining 1.7%.
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