Lowering Our Baker Hughes FVE Due to Potential Deleterious Effects From Accelerated GE Separation
We are lowering our Baker Hughes fair value estimate to $30 per share from $32 owing to potentially deleterious effects from the company's accelerated separation with parent company GE. Per an agreement signed in November 2018, GE has begun selling a portion of its stake in Baker Hughes. The agreements also lay out the framework for a full divestiture of GE's stake (to occur sometime after July 2019).As far as the direct impact of the separation, management is guiding for perhaps 20 to 40 basis...
Baker Hughes is an energy technology company. The company's segments are: Oilfield Services, which provides products and services for onshore and offshore operations ranging from drilling, evaluation, completion, production, and intervention; Oilfield Equipment, which provides products and services for the subsea, offshore surface and onshore operating environments; Turbomachinery and Processing Solutions, which provides equipment and related services for mechanical-drive, compression and power-generation applications; and Digital Solutions, which includes condition monitoring, industrial controls, non-destructive technologies, measurement, sensing, and pipeline solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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