Analysts’ Recent Ratings Updates for Baker Hughes (BHI)
Several investment firms have updated their stock ratings and price targets on shares of Baker Hughes (NYSE: BHI) in the last week:
- Baker Hughes is now covered by analysts at Credit Suisse. They set a “neutral” rating on the stock.
- Baker Hughes had its price target lowered by analysts at Deutsche Bank from $79.00 to $68.00. They now have a “buy” rating on the stock. They wrote, “Bottoming out. BHI posted a disappointing Q3 as North America (NA) continued its downward drift and a number of events conspired to depress international results. All is not lost, however. We believe pressure pumping margins are at or near bottom on a leading edge basis, NA land activity should benefit from E&P budget resets in early ’13 and the Gulf of Mexico should be a bright spot going forward. International growth is lagging a bit but margins recover as the issues in Q3 appear transitory. With expectations bottoming, we retain a BUY rating.”
- Baker Hughes had its price target lowered by analysts at Jefferies Group from $48.00 to $47.00. They now have a “hold” rating on the stock. They wrote, “We accept that 3Q12′s transient issues should ease quickly, but BHI’s country concentration remains a negative. Further, we view negatively the shift to focus on areas of strength as it points to slower long-term growth for BHI than for peers (and risks greater concentration), despite the lower capex and margin offsets to FCF. Along with modeling more US softness for ’13 EPS, slower growth lowers our PT to $47 from $48. Maintain Hold.”
- Baker Hughes was downgraded by analysts at Societe Generale from a “buy” rating to a “hold” rating. They wrote, “BHI’s 3Q’12 results fell well short of expectations in all regions as a congruence of headwinds impacted operations. While many of these issues should prove transitory, it can take several quarters for operations to normalize in International markets, and a very slow US holiday drilling season will likely weigh heavily on Q4’12/Q1’13. BHI is considered by many investors to be a recovery story. A significant stumble such as Q3’12 could force BHI shares into the penalty box and the stock could underperform in the interim as investors adopt a more cautious stance.”
- Baker Hughes had its “neutral” rating reaffirmed by analysts at Macquarie. They now have a $49.00 price target on the stock.
- Baker Hughes ‘s EPS estimates were cut by analysts at Dahlman Rose. They now have a “buy” rating and a $50.00 price target on the stock.
Shares of Baker Hughes opened at 42.71 on Thursday. Baker Hughes has a 52 week low of $37.08 and a 52 week high of $61.90. The company has a market cap of $18.792 billion and a P/E ratio of 13.32.
Baker Hughes Incorporated (Baker Hughes) is engaged in the oilfield services industry. Baker Hughes is a supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry.