SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: kormac who wrote (58087)1/7/2000 11:33:00 AM
From: Terry D  Read Replies (2) of 95453
 
BEAR UPS BHI PRICE TARGET _ CUTS ESTIMATES (and so it goes on Wall St)

Baker Hughes Inc. (BHI ú $22 1 /2) Buy Price Target: $45
We reduce our 2000 estimate from $0.90 to $0.60, but believe that BHI is undervalued in the context of the ongoing recovery in oilfield capital spending. EPS are now expected to rise from $0.19 in 1999 to $0.60 in 2000. BHI stumbled in Q499 when it discovered a $40-$50 million accounting "issue", which they have handled poorly. But this misstep presented investors with an exceptional buying opportunity. Although BHI has yet to make a full explanation of the accounting "issue", the company has uncovered nothing beyond the Inteq division or above the $40-$50 million initial estimate. We doubt that the issue will do any further damage to BHI. Under our revised earnings scenario, we look for no meaningful recovery in Western Geophysical in 2000. This is a conservative, but justifiable assumption given the lack of new business on the horizon. We still believe that substantial benefits from
the 1998 merger will accrue to Baker Hughes shareholders, although it will take longer for the benefits to be realized.

Bear Stearns: 12/1999E $0.19; Q4 $(0.03) 12/2000E $0.90 to $0.60 12/2001E $1.65 to $1.40

Consensus: 12/1999E $0.19; Q4 $(0.02) 12/2000E $0.51 12/2001E $1.10 Consensus Rating: 2.0 (last updated 1/6)
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News