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BHI

Changed to BHGE

$61.88

-0.12 (-0.19%)

, GE

General Electric

$31.44

0.1 (0.32%)

12:30
11/27/16
11/27
12:30
11/27/16
12:30

Baker Hughes merger could produce a winner, Barron's says

Baker Hughes' (BHI) proposed merger with GE's (GE) oil and gas business could produce a winner, Barron's contends in a feature article. The combination "makes sense," and could lessen the new Baker Hughes' reliance on the oil and gas cycle through the addition of GE's long term, diversified contracts, the publication says, adding that shares could be worth $69 as the deal progresses. Reference Link

BHI

Changed to BHGE

$61.88

-0.12 (-0.19%)

GE

General Electric

$31.44

0.1 (0.32%)

  • 29

    Nov

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    Nov

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    Dec

  • 08

    Dec

  • 08

    Dec

BHI Changed to BHGE
$61.88

-0.12 (-0.19%)

11/01/16
ARGS
11/01/16
NO CHANGE
ARGS
Baker Hughes price target raised to $65 from $56 at Argus
Argus analyst Bill Selesky raised his price target on Baker Hughes (BHI) after the company agreed to combine with GE's (GE) oil and gas unit. The analyst expects the new company to compete more effectively with Halliburton (HAL) and Schlumberger (SLB). He expects Baker Hughes to be boosted by GE's digital technology, and keeps a Buy rating on Baker Hughes.
11/01/16
11/01/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chevron (CVX) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Evan Calio saying he believes Chevron is differentiated and has the largest free cash flow inflection in 2017-2019 from project start-ups, primarily Wheatstone and Gorgon, driving production growth to 16%, has the best short-cycle opportunity globally, particularly in the Permian,and has higher oil leverage into a cyclical price recovery. 2. Baker Hughes (BHI) upgraded to Neutral from Underweight at Atlantic Equities. 3. Johnson Controls (JCI) upgraded to Conviction Buy from Buy at Goldman with analyst Joe Ritchie saying he believes Johnson's fundamentals are improving, cost savings should support EBIT growth, and valuation is inexpensive. 4. Brocade upgraded to Outperform on potential takeover at RBC Capital with analyst Mitch Steves saying he believes Brocade makes sense as a strategic asset to the right operator and would be mid-single-digit accretive to the acquirer. 5. VMware (VMW) upgraded to Buy from Hold at Summit Redstone. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/01/16
11/01/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. MasterCard (MA) downgraded to Neutral from Buy at Guggenheim. 2. L Brands (LB) downgraded to Neutral from Buy at Mizuho with analyst Betty Chen saying the company's third quarter earnings per share miss "demonstrates the severity of the challenges" it's facing, and she believes that its outlook is "cloudy." 3. GoDaddy (GDDY) downgraded to Neutral from Buy at Monness Crespi with analyst James Cakmak citing valuation and saying he sees limited upside to estimates but expects another solid quarter. 4. Baker Hughes (BHI) downgraded to Outperform from Strong Buy at Raymond James. 5. Level 3 (LVLT) downgraded to Neutral from Buy at Goldman, to Sector Perform from Outperform at RBC Capital, and to Hold from Buy at Jefferies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/21/16
SUSQ
11/21/16
NO CHANGE
Target $70
SUSQ
Positive
Baker Hughes price target raised to $70 from $64 at Susquehanna
Susquehanna analyst Charles Minervino raised his price target on Baker Hughes (BHI) to $70 from $64 as he believes the share price is still not adequately reflecting the premium paid by General Electric (GE). He believes the assumptions laid out by GE in its presentation to sell the deal were conservative. Minervino reiterated his Positive rating on Baker Hughes shares.
GE General Electric
$31.44

0.1 (0.32%)

10/31/16
JEFF
10/31/16
NO CHANGE
Target $48
JEFF
Hold
Baker gets no premium in GE deal without synergies, says Jefferies
Jefferies analyst Brad Handler says his quick valuation suggests that Baker Hughes (BHI) receives no premium in its merger with General Electric (GE) without synergies. The lack of premium isn't surprising as the deal will be "sold" based on cost and revenue synergies, Handler tells investors in a research note. He notes that the cost synergies target of $1.6B by 2020 is a surprise based on Schlumberger's and Cameron's (CAM) target of $500M. Handler has a Hold rating on Baker Hughes with a $48 price target.
11/01/16
COWN
11/01/16
NO CHANGE
Target $65
COWN
Outperform
Baker Hughes has an upside case to $72 per share, says Cowen
Cowen analyst Mark Bianchi said Baker Hughes' (BHI) merger with General Electric's (GE) O&G unit was not what many had hoped for, as it dilutes its exposure to a recovery, adding that investors appear to be unwilling to pay for promised benefits of integration that will take time to be proven. Bianchi said the base case for valuation suggests a $64 price target but if higher synergies are achieved, as were discussed by both parties, upside could be as high as $72 per share. Bianchi maintained his Outperform rating and $65 price target on Baker Hughes shares.

TODAY'S FREE FLY STORIES

NUVA

NuVasive

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-1.34 (-2.51%)

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JUNO

Juno Therapeutics

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-3.15 (-6.46%)

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CELG

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GILD

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SNP

Sinopec

$83.07

-1 (-1.19%)

20:35
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SHLX

Shell Midstream

$30.74

0.21 (0.69%)

20:34
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Downgrade
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UNH

UnitedHealth

$232.90

4.26 (1.86%)

20:31
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20:31
Recommendations
UnitedHealth analyst commentary at Piper Jaffray »

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  • 16

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AVXS

AveXis

$105.01

-12.49 (-10.63%)

20:31
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Syndicate
AveXis 3.921M share Secondary priced at $102.00 »

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  • 17

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OZRK

Bank of the Ozarks

$52.23

-0.24 (-0.46%)

20:26
01/16/18
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20:26
Downgrade
Bank of the Ozarks rating change at Keefe Bruyette »

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WP

Worldpay

$78.26

0.66 (0.85%)

, VNTV

Symbol changed to WP

20:25
01/16/18
01/16
20:25
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20:25
Initiation
Worldpay, Symbol changed to WP initiated at Goldman Sachs »

Worldpay reinstated with…

WP

Worldpay

$78.26

0.66 (0.85%)

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BAC

Bank of America

$31.24

0.05 (0.16%)

, GS

Goldman Sachs

$258.46

1.43 (0.56%)

20:25
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01/16
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Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

BAC

Bank of America

$31.24

0.05 (0.16%)

GS

Goldman Sachs

$258.46

1.43 (0.56%)

USB

U.S. Bancorp

$57.17

0.19 (0.33%)

FAST

Fastenal

$55.44

-0.15 (-0.27%)

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C

Citi

$77.11

0.27 (0.35%)

20:20
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20:20
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20:20
Downgrade
Citi rating change at Keefe Bruyette »

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O

Realty Income

$52.94

0.22 (0.42%)

19:12
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Hot Stocks
Realty Income raises monthly dividend to 21.9c per share from 21.25c »

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NGD

New Gold

$3.44

0.05 (1.47%)

19:05
01/16/18
01/16
19:05
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19:05
Hot Stocks
New Gold sees FY18 gold production 525,000-595,000 ounces »

Sees FY18 copper…

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NGD

New Gold

$3.44

0.05 (1.47%)

19:04
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Hot Stocks
New Gold reports Q4 gold production 154,446 ounces »

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NGD

New Gold

$3.44

0.05 (1.47%)

19:04
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Hot Stocks
New Gold reports FY17 gold production 430,864 ounces »

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PYPL

PayPal

$80.42

-0.12 (-0.15%)

18:50
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Earnings
PayPal sees FY18 revenue $15B-$15.25B, consensus $15.35B »

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  • 08

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CE

Celanese

$109.67

-1.67 (-1.50%)

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  • 26

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RIG

Transocean

$11.47

-0.73 (-5.98%)

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  • 16

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WMT

Walmart

$100.69

-0.18 (-0.18%)

18:13
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Periodicals
Wal-Mart COO to be named international CEO, Reuters says »

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  • 20

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CME

CME Group

$152.20

-0.53 (-0.35%)

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CE

Celanese

$109.67

-1.67 (-1.50%)

18:02
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Hot Stocks
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  • 26

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SRC

Spirit Realty

$8.07

-0.03 (-0.37%)

17:46
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NTNX

Nutanix

$36.01

-1.83 (-4.84%)

17:45
01/16/18
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Conference/Events
Nutanix management to meet with Piper Jaffray »

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JUNO

Juno Therapeutics

$45.60

-3.15 (-6.46%)

, CELG

Celgene

$104.82

-1.18 (-1.11%)

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On The Fly: After Hours Movers »

HIGHER: Juno Therapeutics…

JUNO

Juno Therapeutics

$45.60

-3.15 (-6.46%)

CELG

Celgene

$104.82

-1.18 (-1.11%)

NEWA

Newater Technology

$15.80

2.8 (21.54%)

VRS

Verso

$17.00

0.06 (0.35%)

EXEL

Exelixis

$29.65

-0.73 (-2.40%)

IPSEY

Ipsen

RNST

Renasant

$43.86

0.15 (0.34%)

IBKR

Interactive Brokers

$62.45

-0.65 (-1.03%)

CSX

CSX

$58.13

-1.12 (-1.89%)

ATEN

A10 Networks

$7.31

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HTGM

HTG Molecular

$3.50

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HIVE

Aerohive

$5.70

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OBLN

Obalon Therapeutics

$7.93

0.03 (0.38%)

XON

Intrexon

$13.77

-0.94 (-6.39%)

BOOT

Boot Barn

$19.10

-0.15 (-0.78%)

F

Ford

$13.10

-0.13 (-0.98%)

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NRZ

New Residential

$17.63

-0.11 (-0.62%)

17:35
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Earnings
Breaking Earnings news story on New Residential »

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  • 17

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EXEL

Exelixis

$29.65

-0.73 (-2.40%)

17:30
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17:30
Hot Stocks
Breaking Hot Stocks news story on Exelixis »

Exelixis up 3.2%…

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