UBS Maintains a 'Buy' on Baker Hughes (BHI); Our Outlook...International Continues to Improve, NAM Needs Work

UBS maintains a 'Buy' on Baker Hughes (NYSE: BHI) price target cut from $82 to $66.

UBS analyst says, "BHI executed well in meeting its ambitious international margin goal of 15% (2011 exit rate) up from 5% in Q3-10. However, NAM cost and logistic issues will continue to overhang results in 1H-12 (similar to its largest peer), as we expected."

UBS cuts FY12 from $5.55 to $4.91 and FY13 from $6.31 to $5.67.

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 $47.44 yesterday.

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