Baker Hughes shares set to rise on GE deal: Barron's
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
The ticker and logo for General Electric Co. is displayed on a screen at the post where it's traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2016. REUTERS/Brendan McDermid
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
NEW YORK (Reuters) - Shares of oilfield services company Baker Hughes Inc (NYSE: BHI) could rise significantly if it completes its merger with General Electric Co's (NYSE: GE) oil and gas division, according to a report in Barron's.
The companies announced the deal last month, just as competition in the sector started to heat up after several years of low crude prices. The combined company would be the world's second-largest oilfield services provider.
The report said the new company would be well positioned even if oil prices do not rise significantly. It said that Evercore analyst James West believes the stock could be worth $69 a share, more than 10 percent above its closing price of $61.88 on Friday.
(Reporting by Michael Erman; Editing by Peter Cooney)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rite Aid (RAD)/Walgreens (WBA) Antitrust Concerns Doesn't Mean Deal is Dead, Says Deutsche Bank
- Mallinckrodt (MNK) to Pay $100M to Settle FTC, State Charges for Violating Antitrust Laws
- Maverick Capital eyes rebound on bets Trump may roil Wall Street
Create E-mail Alert Related CategoriesReuters
Related EntitiesBarron's, Crude Oil, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!