Dahlman Rose Downgrades Baker Hughes (BHI) to Hold
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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!
Dahlman Rose downgraded Baker Hughes (NYSE: BHI) from Buy to Hold along with 8 other oil service names on valuation citing recent strength.
"We continue to have a positive view on the performance of the oil service group," the analyst said. "At this point, we have a clear preference for those companies strongly exposed to the multiyear upturn forecast for international exploration and production spending and those oriented toward the exceptional outlook for ultra-deepwater. Given the sluggish outlook for North American E&P spending and the outperformance recently of North America-oriented stocks, we are deemphasizing this group."
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 $45.65 yesterday, with a 52 week range of $37.08-$52.93.
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"We continue to have a positive view on the performance of the oil service group," the analyst said. "At this point, we have a clear preference for those companies strongly exposed to the multiyear upturn forecast for international exploration and production spending and those oriented toward the exceptional outlook for ultra-deepwater. Given the sluggish outlook for North American E&P spending and the outperformance recently of North America-oriented stocks, we are deemphasizing this group."
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 $45.65 yesterday, with a 52 week range of $37.08-$52.93.
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