Barclays initiated coverage of Baker Hughes, a GE company Class A BHGE, with an Overweight rating and a $41 price target. The firm believes the company will be given some early leeway to justify a multiple relatively in line with Halliburton Company HAL and Schlumberger Limited. SLB, with the opportunity to earn a premium down the road. The new Baker Hughes is formed as a result of the merger between Baker Hughes and General Electric Company GE's oil & gas business.Read more