Barclays Maintains an 'Overweight' on Baker Hughes (BHI); Key Takeaways From CFO Meeting

June 5, 2012 3:41 PM EDT
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Price: $61.42 -0.9%

Rating Summary:
    22 Buy, 19 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Barclays maintains an 'Overweight' on Baker Hughes (NYSE: BHI) price target of $74.00.

Analyst, James C. West, highlighted three main takeaways from a recent meeting with Baker Hughes' CFO: 1) NAM Pumping Self-Help Continues, all Other Product Lines Performing Well: All product lines are performing well in North America except pressure pumping which is troughing; 2) Stimulation Pricing Potentially Bottoming: The company has experienced some price improvements in the Permian, pricing is bottoming in the gas plays, and remains under pressure in the Eagle Ford; and 3) International Growth Continues: Internationally all markets are growing...the biggest areas of strength are Brazil, the North Sea, and the Middle East.

For an analyst ratings summary and ratings history on Baker Hughes click here. For more ratings news on Baker Hughes click here.

Shares of Baker Hughes closed at $40.84 yesterday.

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