Barclays Maintains an 'Overweight' on Baker Hughes (BHI); A Self-Help Bounce Back
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Price: $47.53 +2.77%
Rating Summary:
9 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade BHI Now!
Barclays maintains an 'Overweight' on Baker Hughes (NYSE: BHI) price target of $63.00 (from $70.00).
Analyst, James C. West, said, "After suffering two quarters of somewhat self-inflicted
logistic, supply chain and infrastructure problems in its North American pressure
pumping unit, Baker Hughes is seeing substantial benefits from its internal "self help"
initiatives."
West also mentioned the challenges on growth NAM margins in the second half of the year, but this should be offset by the international upcycle. He sees significant value in BHI shares, considering the stock is trading at 10x 2013 earnings (25% discount to historical average). West raises FY12 EPS estimate from $3.70 to $3.80, but lowers FY13 from $5.00 to $4.50.
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 $45.59 yesterday, with a 52 week range of $37.08-$81.00.
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Analyst, James C. West, said, "After suffering two quarters of somewhat self-inflicted
logistic, supply chain and infrastructure problems in its North American pressure
pumping unit, Baker Hughes is seeing substantial benefits from its internal "self help"
initiatives."
West also mentioned the challenges on growth NAM margins in the second half of the year, but this should be offset by the international upcycle. He sees significant value in BHI shares, considering the stock is trading at 10x 2013 earnings (25% discount to historical average). West raises FY12 EPS estimate from $3.70 to $3.80, but lowers FY13 from $5.00 to $4.50.
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 $45.59 yesterday, with a 52 week range of $37.08-$81.00.
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