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BHGE

Baker Hughes

$27.68

1.24 (4.69%)

, GE

General Electric

$14.53

-0.21 (-1.42%)

13:16
02/21/18
02/21
13:16
02/21/18
13:16

Baker Hughes rises after GE CFO signals plans to stand pat until lockup expires

Shares of Baker Hughes (BHGE) are rising after General Electric (GE) CFO Jamie Miller said earlier while speaking at an industry conference that the company has no plans to alter its majority ownership stake prior to the end of the companies' two-year lockup period in 2019. Miller stated earlier today while presenting at the Barclays Industrial Select Conference: "We like that combination a lot. Management is doing a very nice job executing in the portfolio, and we have a lot of confidence in them and their plan. Obviously, given today's valuation levels, we see a lot of upside there. We like the macro trends. And at this point in time, we have no intent to change anything or execute prior to the expiration of any of the lockup periods." In afternoon trading, shares of Baker Hughes have risen 93c, or 3.5%, to $27.37.

BHGE

Baker Hughes

$27.68

1.24 (4.69%)

GE

General Electric

$14.53

-0.21 (-1.42%)

  • 21

    Feb

  • 21

    Feb

  • 26

    Feb

  • 27

    Feb

  • 28

    Feb

BHGE Baker Hughes
$27.68

1.24 (4.69%)

01/02/18
MSCO
01/02/18
NO CHANGE
MSCO
Morgan Stanley says 2018 may be record year for oilfield services M&A
Morgan Stanley analyst Ole Slorer believes large-cap oilfield services stocks are likely to lead a "compelling 2018 mean reversion trade," noting that large-caps have historically outperformed small-caps early in the year. Slorer also believes 2018 may be a record year for oilfield services M&A given the recent industry focus on projects being streamlined to make them economic in a $50-$60 per barrel oil price environment. Large-cap services names include Baker Hughes (BHGE), Schlumberger (SLB), Haliburton (HAL) and Weatherford (WFT). Small-cap services names covered by the firm include RPC, Inc. (RES), Core Laboratories (CLB), C&J Energy Services (CJ), Frank's International (FI), Superior Energy (SPN) and Tetra Technologies (TTI).
02/01/18
GSCO
02/01/18
UPGRADE
Target $33.5
GSCO
Neutral
Baker Hughes upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Waqar Syed upgraded Baker Hughes to Neutral and raised his price target for the shares to $33.50 from $31. The analyst believes expectations have been reset lower over the last six months and highlights his firm's more favorable commodity price outlook. He thinks his Sell thesis has played out.
02/01/18
02/01/18
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. eBay (EBAY) upgraded to Outperform from Sector Perform at RBC Capital with analyst Mark Mahaney citing the "ongoing acceleration in Marketplace gross merchandise volume, the surprise announcement that eBay will intermediate payments, and materially ramped up share repurchases." 2. Textron (TXT) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Rajeev Lalwani citing the growing chances he sees of a bizjet recovery, the stock's relative underperformance over the last year and upside levers that include R&D cuts, M&A, or more capital returns. 3. Invesco (IVZ) upgraded to Outperform from Neutral at Credit Suisse with analyst Craig Siegenthaler saying the operating expense reset with yesterday's fourth quarter results, recent sell-side downgrades, and share price underperformance over the last six months presents an upgrade opportunity and attractive valuation. 4. Baker Hughes (BHGE) upgraded to Neutral from Sell at Goldman Sachs with analyst Waqar Syed saying he believes expectations have been reset lower over the last six months and highlights his firm's more favorable commodity price outlook. 5. AMD (AMD) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying the latest quarterly results demonstrate the "sustainability of the company's return to consistent profitability and top and bottom-line growth." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/12/18
RBCM
02/12/18
NO CHANGE
Target $30
RBCM
Outperform
Baker Hughes price target lowered to $30 from $35 at RBC Capital
RBC Capital analyst Kurt Hallead lowered his price target on Baker Hughes to $30, citing the company's lower margin guidance in its TPS business which also reduced consensus estimates. The analyst keeps his Outperform rating on the company, noting potential catalysts that include acceleration in the global energy expenditures, higher than expected increase in international drilling, and acceleration in Subsea and LNG FIDs.
GE General Electric
$14.53

-0.21 (-1.42%)

02/08/18
DBAB
02/08/18
NO CHANGE
Target $13
DBAB
Sell
Deutsche Bank cuts General Electric price target of $13 from $15
Deutsche Bank analyst John Inch cut his price target for General Electric shares to $13 from $15 after introducing a 2020 earnings per share estimate of 90c, which represents a year-over-year decline of 16%. The stock closed yesterday down 2c to $15.25. The analyst's model assumes GE divests its IS, Rail, Lighting and Baker Hughes businesses by 2020. The 90c estimate could prove too high if the SEC investigation required GE to reduce contract asset earnings, Aviation/Healthcare were to incur operational hiccups and/or if GE were to make additional divestitures, Inch tells investors in a research note. His sum-of-the-parts analysis yields a $12 per share value for General Electric. The analyst keeps a Sell rating on the shares.
02/12/18
JPMS
02/12/18
NO CHANGE
Target $14
JPMS
Underweight
JPMorgan cuts GE price target to $14, sees potential downside to $10-$11
JPMorgan analyst C. Stephen Tusa lowered his price target for shares of General Electric to $14 from $16 while maintaining an Underweight rating on the name. The stock closed Friday up 47c to $14.94. The company's fundamentals remain "challenged/mixed," and are showing "few signs of a snap back," Tusa tells investors in a research note. GE's portfolio is still low growth, with weak free cash flow and too much leverage, raising a question around whether an equity raise is possible, Tusa writes. The analyst does not think the company needs to raise capital as of yet, but adds "it would certainly help to de-risk from any capital markets volatility, and provide an accelerated pathway to greater optionality." Tusa argues that the value that is left over for equity holders is below where the stock currently trades. His sum-of-the-parts value for GE is $13, with downside to $10-$11 per share "depending on the outcome of certain liabilities that are tough to call but have historically been money bad."
02/13/18
BMOC
02/13/18
NO CHANGE
Target $35
BMOC
Market Perform
Genpact price target raised to $35 from $32 at BMO Capital
BMO Capital analyst Keith Bachman raised his price target on Genpact (G) to $35, saying the company's revenue growth trajectory is improving thanks to the "strong demand environment, solid execution, and lower revenue mix impact from General Electric (GE)". The analyst contends that revenue growth rates can accelerate further if Global Clients can grow 10% per year and GE stabilizes. Bachman keeps his Market Perform rating on Genpact, noting that the stock price gains are limited because operating and free cash flow margins will not improve "meaningfully".
02/15/18
LEHM
02/15/18
INITIATION
Target $16
LEHM
Equal Weight
General Electric initiated with an Equal Weight at Barclays
Barclays analyst Julian Mitchell started General Electric with an Equal Weight rating and $16 price target. The analyst initiated 24 Multi-Industry companies with a Neutral sector view.

TODAY'S FREE FLY STORIES

FNWB

First Northwest Bancorp

$16.11

0.36 (2.29%)

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-0.24 (-0.32%)

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17:39
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United States Natural Gas Fund

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0.03 (0.04%)

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iShares iBoxx $ Investment Grade Corporate Bond

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iShares 20+ Year Treasury Bond Fund

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XRX

Xerox

$25.10

-0.095 (-0.38%)

, FUJIY

Fujifilm

$0.00

(0.00%)

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Fujifilm

$0.00

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STON

StoneMor Partners

$3.61

-0.015 (-0.41%)

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TEF

Telefonica

$8.70

0.07 (0.81%)

17:11
07/20/18
07/20
17:11
07/20/18
17:11
Downgrade
Telefonica rating change at Goldman Sachs »

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

, USO

United States Oil Fund

$14.15

0.025 (0.18%)

17:04
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Weekly CFTC Commitment of Traders highlights »

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SPY

SPDR S&P 500 ETF Trust

$279.71

-0.24 (-0.09%)

USO

United States Oil Fund

$14.15

0.025 (0.18%)

GLD

SPDR Gold Trust

$116.56

0.74 (0.64%)

FXE

Euro Currency Trust

$112.46

0.83 (0.74%)

FXC

CurrencyShares Canadian Dollar Trust

$75.17

0.81 (1.09%)

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CZWI

Citizens Community Bancorp

$14.15

(0.00%)

17:02
07/20/18
07/20
17:02
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17:02
Syndicate
Breaking Syndicate news story on Citizens Community Bancorp »

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PKD

Parker Drilling

$0.30

-0.0044 (-1.46%)

17:01
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17:01
Hot Stocks
Breaking Hot Stocks news story on Parker Drilling »

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  • 02

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RSLS

ReShape Lifesciences

$1.47

-0.02 (-1.34%)

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Hot Stocks
Breaking Hot Stocks news story on ReShape Lifesciences  »

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BOX

Box

$26.13

-0.26 (-0.99%)

16:57
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ALDX

Aldeyra

$7.95

-0.15 (-1.85%)

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GLRE

Greenlight Capital Re

$14.00

-0.15 (-1.06%)

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RVI

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0.2 (0.58%)

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LECO

Lincoln Electric

$92.26

0.64 (0.70%)

, ROK

Rockwell Automation

$171.32

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LECO

Lincoln Electric

$92.26

0.64 (0.70%)

ROK

Rockwell Automation

$171.32

-0.71 (-0.41%)

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  • 23

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KMX

CarMax

$77.15

-0.57 (-0.73%)

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LOW

Lowe's

$100.65

-0.74 (-0.73%)

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16:30
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Options
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PFE

Pfizer

$37.33

-0.03 (-0.08%)

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  • 22

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JCP

J.C. Penney

$2.50

-0.065 (-2.53%)

16:23
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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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Options
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ASFI

Asta Funding

$3.15

-0.1 (-3.08%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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07/20
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16:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
07/20/18
07/20
16:16
07/20/18
16:16
Technical Analysis
NYSE market internals summary »

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DIS

Disney

16:15
07/20/18
07/20
16:15
07/20/18
16:15
Periodicals
Disney fires 'Guardians' director after controversial tweets, THR says »

Disney has fired James…

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  • 07

    Aug

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