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BHGE

Baker Hughes

$23.20

-0.99 (-4.09%)

, GE

General Electric

$9.15

0.21 (2.35%)

07:06
09/11/19
09/11
07:06
09/11/19
07:06

GE shrinking ownership positive news for Baker Hughes, says Stifel

Stifel analyst Stephen Gengaro noted that General Electric (GE) will cut its ownership stake in Baker Hughes (BHGE) to about 39.5% from 50.3% via Baker Hughes' repurchase of $250M of its Class B common stock and GE's secondary offering of 105M Class A shares. While he said Baker Hughes shares could weaken on the offering, Gengaro views this as positive news for the company, calling it a positive step towards removing the overhang of GE's ownership. He reiterated a Buy rating and $34 price target on Baker Hughes shares.

BHGE

Baker Hughes

$23.20

-0.99 (-4.09%)

GE

General Electric

$9.15

0.21 (2.35%)

  • 11

    Sep

  • 30

    Oct

  • 12

    Sep

BHGE Baker Hughes
$23.20

-0.99 (-4.09%)

03/15/19
JEFF
03/15/19
NO CHANGE
JEFF
Jefferies downgrades three, upgrades three in Oil Services & Equipment
Jefferies analyst Brad Handler made a handful of rating changes in Oil Services & Equipment. "The harder we look at OFS, the more modest the growth prospects seem," Handler tells investors in a research note. This supports a neutral sector view and favors stock picking, adds the analyst. He downgraded Schlumberger (SLB) to Hold from Buy following the stock's recovery as well as both Helmerich & Payne (HP) and Precision Drilling (PDS) to Hold from Buy on a flat U.S. rig count outlook. Handler also upgraded Oceaneering International (OII) to Buy from Hold citing more confidence in deepwater and a "reasonable" valuation, upgraded Keane Group (FRAC) to Buy from Hold on easing pricing pressure and optionality to put fleets back to work, and upgraded Superior Energy Services to Hold from Underperform. Handler's top picks are Baker Hughes (BHGE), Patterson-UTI (PTEN) and Keane Group. The latter two replace Helmerich & Payne and Apergy (APY).
05/01/19
RBCM
05/01/19
NO CHANGE
Target $33
RBCM
Outperform
Baker Hughes price target lowered to $33 from $40 at RBC Capital
RBC Capital analyst Kurt Hallead lowered his price target on Baker Hughes to $33, adjusting the time frame for average forward multiple in his model to late 2017 from mid-2014 since that was the first combined reporting period for the company. The analyst is also keeping his Outperform rating on Baker Hughes and remains positive on its "multiple levers of growth" amid "robust" LNG equipment demand trends.
06/06/19
JEFF
06/06/19
NO CHANGE
Target $32
JEFF
Buy
Baker Hughes remains a top large-cap pick at Jefferies
Jefferies analyst Brad Handler says Baker Hughes remains his top large-cap pick. The company's Middle East growth should benefit from recent awards and the ADNOC partnership, Handler tells investors in a research note. The analyst finds the shares "very attractive" post the selloff in the group. He keeps a Buy rating on Baker Hughes with a $32 price target.
08/28/19
BOFA
08/28/19
DOWNGRADE
BOFA
Neutral
Nabors, Quintana Energy Services, Nine Energy cut to Neutral at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill downgraded Nabors (NBR), Quintana Energy Services (QES), and Nine Energy Services (NINE) to Neutral from Buy in a broader research note, saying E&P companies are increasingly focused on efficiency gains. The analyst notes however that the technology adoption and service integration are still in the "early innings" of reducing capital intensity. Mulvehill adds that the rating change for these U.S. companies is driven by heightened global macro uncertainty and the resulting oil price volatility, stating that he prefers names with international exposure like Schlumberger (SLB) and Baker Hughes (BHGE).
GE General Electric
$9.15

0.21 (2.35%)

09/03/19
DBAB
09/03/19
NO CHANGE
DBAB
Hold
GE fraud report fails to make compelling argument, says Deutsche Bank
Harry Markopolos' presentation on why he believes General Electric is headed toward bankruptcy fails to make a compelling argument, Deutsche Bank analyst Nicole DeBlase tells investors in a research note. Despite obvious headwinds in the company's "messy" long-term care insurance business, the logic put forth in the presentation "appears largely poorly reasoned," says the analyst. She believes Markopolos mismatched accounting treatments and made comparisons based on data sets too small from which to draw conclusions. "Our aim was to complete an analysis of this broadside, but we find some of its arguments to be weak while others are plainly incorrect," writes DeBlase. The analyst admits, "We find ourselves in the unenviable position of having to defend the reserve adequacy of a business about whose future claim projections we have very deep concerns." She has, and keeps, a Hold rating on shares of General Electric.
09/04/19
SBSH
09/04/19
NO CHANGE
SBSH
Buy
GE making 'meaningful progress' on simplifying company, says Citi
Following a recent breakfast with management, including CEO Larry Culp, Citi analyst Andrew Kaplowitz remains encouraged by General Electric's "positive momentum," despite "still considerable improvements needed." In the near-term, GE's 2019 framework of negative $1B to positive $1B free cash flow and earnings per share of 55c-65c seems largely intact, "albeit with some risks to monitor," especially relative to elevated U.S.-China trade tensions, Kaplowitz tells investors in a research note. The analyst, however, believes simplifying the company remains a high priority and one on he thinks "meaningful progress is underway." Further, longer-term, GE's runway for improving results in 2020 and beyond "could be more significant than we think some investors appreciate," says the analyst. He keeps a Buy rating on shares of General Electric.
09/05/19
MSCO
09/05/19
INITIATION
Target $10
MSCO
Equal Weight
General Electric initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Joshua Pokrzywinski initiated coverage of General Electric with an Equal Weight rating and $10 price target. The stock's risk/reward "appears reasonable," but comes with an "unfavorable catalyst timing" and unresolved risks outside the core business, particularly in Long-Term Care, Pokrzywinski tells investors in a research note. He believes the GE's "reasonable" valuation and strength in its Aviation platform are offset by "opaque potential cash needs" in Long-Term Care and the long-term market and share potential in Power as competition evolves. Most of the uncertainty in the shares resides outside the core business, making GE less of a fundamental call, says the analyst.
09/05/19
09/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. General Electric (GE) initiated with an Equal Weight at Morgan Stanley. 2. Organigram (OGI) initiated with a Perform at Oppenheimer. 3. Wingstop (WING) initiated with a Market Perform at Raymond James. 4. Boston Scientific (BSX) reinstated with an Overweight at JPMorgan. 5. Cubic (CUB) initiated with a Hold at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

18:25
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General news
U.S. industrial production preview: »

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ICAD

iCAD

$6.89

-0.01 (-0.14%)

18:25
09/16/19
09/16
18:25
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Conference/Events
iCAD to hold an investor reception »

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GLW

Corning

$30.04

-0.12 (-0.40%)

18:18
09/16/19
09/16
18:18
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18:18
Hot Stocks
Corning down 5.5% or $1.64 at $28.40 per share after cutting volume outlook »

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WE

We Company

$0.00

(0.00%)

18:17
09/16/19
09/16
18:17
09/16/19
18:17
Periodicals
We Company IPO delayed until October at earliest, WSJ reports »

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GLW

Corning

$30.04

-0.12 (-0.40%)

18:16
09/16/19
09/16
18:16
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18:16
Hot Stocks
Corning cuts Q3 volume guidance for Display and Optical Communications units »

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WE

We Company

$0.00

(0.00%)

18:05
09/16/19
09/16
18:05
09/16/19
18:05
Periodicals
Breaking Periodicals news story on We Company »

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GM

General Motors

$37.21

-1.62 (-4.17%)

18:02
09/16/19
09/16
18:02
09/16/19
18:02
Periodicals
Auto workers strike could cost GM $100M daily, WSJ says »

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HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

17:57
09/16/19
09/16
17:57
09/16/19
17:57
Hot Stocks
Hamilton Lane vice chairman sells 150K shares of common stock »

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  • 26

    Sep

17:52
09/16/19
09/16
17:52
09/16/19
17:52
Conference/Events
SVB Leerink biotech analysts to hold analyst/industry conference call »

Biotech Analysts discuss…

HLNE

Hamilton Lane

$59.95

-0.51 (-0.84%)

17:52
09/16/19
09/16
17:52
09/16/19
17:52
Hot Stocks
Hamilton Lane chairman sells 78.5K shares of common »

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  • 26

    Sep

GD

General Dynamics

$190.91

0.98 (0.52%)

, BAH

Booz Allen

$70.35

0.85 (1.22%)

17:44
09/16/19
09/16
17:44
09/16/19
17:44
Hot Stocks
General Dynamics, Booz Allen and Parsons awarded $427M max Air Force contract »

General Dynamics (GD),…

GD

General Dynamics

$190.91

0.98 (0.52%)

BAH

Booz Allen

$70.35

0.85 (1.22%)

PSN

Parsons

$37.25

0.35 (0.95%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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  • 27

    Oct

T

AT&T

$37.32

-0.58 (-1.53%)

17:43
09/16/19
09/16
17:43
09/16/19
17:43
Periodicals
Suit claims AT&T told employees to make fake DirecTV accounts, Bloomberg says »

According to a lawsuit…

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  • 23

    Oct

UBER

Uber

$34.42

1.18 (3.55%)

, LYFT

Lyft

$47.78

1.68 (3.64%)

17:39
09/16/19
09/16
17:39
09/16/19
17:39
Periodicals
Uber to limit drivers' app access in NYC to comply with rules, Reuters says »

Uber (UBER) on Tuesday…

UBER

Uber

$34.42

1.18 (3.55%)

LYFT

Lyft

$47.78

1.68 (3.64%)

03/08/13
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NEE

NextEra Energy

$218.31

-0.19 (-0.09%)

17:36
09/16/19
09/16
17:36
09/16/19
17:36
Conference/Events
NextEra Energy management to meet with UBS »

Meeting to be held in…

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  • 18

    Sep

  • 02

    Oct

  • 10

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  • 10

    Nov

NJR

New Jersey Resources

$44.80

-0.36 (-0.80%)

17:34
09/16/19
09/16
17:34
09/16/19
17:34
Hot Stocks
New Jersey Resources formally appoints Steve Westhoven CEO »

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MEGEF

MEG Energy

$0.00

(0.00%)

17:34
09/16/19
09/16
17:34
09/16/19
17:34
Conference/Events
MEG Energy management to meet with UBS »

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  • 18

    Sep

KMI

Kinder Morgan

$20.67

0.2 (0.98%)

17:33
09/16/19
09/16
17:33
09/16/19
17:33
Conference/Events
Kinder Morgan management to meet with UBS »

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  • 18

    Sep

DOW

Dow Inc.

$48.98

0.79 (1.64%)

17:31
09/16/19
09/16
17:31
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17:31
Conference/Events
Dow Inc. management to meet with UBS »

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  • 18

    Sep

  • 23

    Sep

  • 24

    Oct

17:28
09/16/19
09/16
17:28
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17:28
Conference/Events
UBS healthcare analyst to hold an analyst/industry conference call »

Healthcare Analyst…

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$300.20

-0.87 (-0.29%)

17:27
09/16/19
09/16
17:27
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17:27
Periodicals
Trump tax returns subpoenaed by Manhattan D.A. in late-August, NYT says »

William Rashbaum and Ben…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$300.20

-0.87 (-0.29%)

SMH

Market Vectors Semiconductor

$121.04

-0.86 (-0.71%)

DIA

Diamonds Fund ETF

$271.24

-1.39 (-0.51%)

QQQ

Invesco QQQ Trust

$191.65

-0.94 (-0.49%)

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SLCA

U.S. Silica

$12.57

1.685 (15.48%)

17:20
09/16/19
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Hot Stocks
U.S. Silica's SandBox unit to appeal U.S. Patent Office decision »

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  • 13

    Nov

17:20
09/16/19
09/16
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Conference/Events
Morgan Stanley steel analyst to hold an analyst/industry conference call »

China Materials Analyst…

TACO

Del Taco

$11.10

-0.12 (-1.07%)

17:16
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Hot Stocks
Del Taco names Chad Gretzema as new COO »

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  • 23

    Sep

  • 04

    Nov

EHC

Encompass Health

$64.68

0.905 (1.42%)

17:10
09/16/19
09/16
17:10
09/16/19
17:10
Initiation
Encompass Health initiated  »

Encompass Health…

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  • 16

    Sep

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    Sep

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