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The new Baker Hughes started with Buy rating at Argus

Published 08/21/2017, 02:48 PM
© Reuters.  The new Baker Hughes started with Buy rating at Argus
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  • Baker Hughes (BHGE -0.3%) is initiated with a Buy rating and a $43 price target at Argus, implying a potential total return including dividends of 32% from current levels, saying the revamped company is well-positioned to give rivals Halliburton (NYSE:HAL) and Schlumberger a run for their money.
  • “We expect GE’s strength in digital technology to complement Baker Hughes’ traditional energy services and equipment offerings,” Argus analyst Bill Selesky writes.
  • Argus has just a Market Weight rating on the broader energy sector and sees a modest rebound in oil prices in the coming years, warning investors that the rebalancing process likely will continue to be volatile.
  • Now read: Oil: Really Strong Progress


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