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Fly News Breaks for March 8, 2018
BHGE
Mar 8, 2018 | 05:14 EDT
UBS analyst Angie Sedita upgraded Baker Hughes to Buy with an unchanged price target of $38. The analyst believes the recent share underperformance creates a "compelling" valuation and 25% discount to peers. Sedita views Baker Hughes' balance sheet as attractive and sees potential for "outsized" margin expansion given $1.2B in cost synergies by 2020. She estimates the company could realize 2017-2020 EBITDA growth of 97% versus 58% for peers.
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