U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive

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Go back to U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive

Jefferies Downgrades Baker Hughes (BHI) Two-Notches to Underperform

April 8, 2016 7:20 AM EDT

Jefferies downgraded Baker Hughes (NYSE: BHI) from Buy to Underperform with a price target of $34.00, saying the DoJ lawsuit against the Halliburton (NYSE: HAL) merger is "daunting." The analyst thinks an aggressive share buyback or a quick acquisition by another party is unlikely.

Analyst Brad Handler commented, "We believe BHI faces considerable challenges to address... More