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Fly News Breaks for April 6, 2016
HAL, BHI
Apr 6, 2016 | 05:48 EDT
Deutsche Bank analyst Mike Urban downgraded Baker Hughes (BHI) saying the merger with Halliburton (HAL) is in doubt following reports that the Department of Justice plans to sue to block the deal. The odds of the merger closing are a "coin flip" at best, Urban tells investors in a research note. He expects shares of Baker Hughes to be range bound during the litigation process and cut his price target for the stock to $43 from $78.
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