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Fly News Breaks for April 3, 2018
WFT, BHGE
Apr 3, 2018 | 04:59 EDT
Piper Jaffray analyst Bill Herbert upgraded Baker Hughes (BHGE) to Overweight and raised his price target for the shares to $39 from $35. The stock closed yesterday unchanged at $27.77. The analyst cites relative valuation, balance sheet strength and the company's capital light business model for the upgrade. He believes expectations for Baker Hughes have been "substantially recalibrated to a more realistic baseline." Herbet coupled the upgrade with a downgrade of Weatherford International (WFT) to Neutral.
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