Global Hunter Securities Downgrades Baker Hughes (BHI) to Neutral; Lower Than Anticipated NAM Margins
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Price: $57.68 --0%
Rating Summary:
15 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Global Hunter Securities downgraded Baker Hughes (NYSE: BHI) from Accumulate to Neutral, price target chopped from $60 to $40.
Analyst, Brian Uhlmer, said, "Following this morning's Q1 2012 pre-announcement, BHI is set to open down today and we do not see that as a buying opportunity given the lack of visibility as to when international will rebound and how BHI-specific NAM issues will be resolved."
"We are revising our Q1 2012 / 2012 / 2013 EPS estimates to 80c / $3.46 / $3.95 from $1.17 / $4.98 / $5.50. These changes reflect our expectation that pressure pumping in NAM will continue to experience pricing pressures, supply chain and raw material constraints, and execution issues will weigh on NAM results through 2H 2012."
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 $47.82 yesterday.
Analyst, Brian Uhlmer, said, "Following this morning's Q1 2012 pre-announcement, BHI is set to open down today and we do not see that as a buying opportunity given the lack of visibility as to when international will rebound and how BHI-specific NAM issues will be resolved."
"We are revising our Q1 2012 / 2012 / 2013 EPS estimates to 80c / $3.46 / $3.95 from $1.17 / $4.98 / $5.50. These changes reflect our expectation that pressure pumping in NAM will continue to experience pricing pressures, supply chain and raw material constraints, and execution issues will weigh on NAM results through 2H 2012."
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 $47.82 yesterday.
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