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Fly News Breaks for April 26, 2017
BHI
Apr 26, 2017 | 07:07 EDT
BMO Capital analyst Daniel Boyd downgraded Baker Hughes to Market Perform and lowered its price target to $65 from $69 to reflect earnings risk. Boyd's estimates are below consensus and guidance as he expects EBITDA growth to disappoint due to disadvantaged cycle mix and near-term execution risk. The analyst likes potential deal synergies upside but thinks buyback expectations of up to 12% of pro forma market cap is possible, but unlikely.
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