Halliburton (HAL) Q1 Postponement Suggests Baker Hughes (BHI) Deal Likely to Be Terminated - Jefferies
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Jefferies analyst Brad Handler said Halliburton (NYSE: HAL) postponement of reporting 1Q16 results until May 3rd likely reflects that it and/or Baker Hughes (NYSE: BHI) will likely terminate the merger agreement once it expires on April 30.
"We believe that investors largely expected this once the DoJ filed its suit to block the merger in early April and thus expect limited share price reaction," he said.
Preliminary 1Q16 results appear ahead of expectations, with restructuring charges plausibly helping margins.
The firm maintained an Buy rating and price target of $43 on HAL.
For an analyst ratings summary and ratings history on Halliburton click here. For more ratings news on Halliburton click here.
Shares of Halliburton closed at $40.84 yesterday.
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