JPMorgan Upgrades Weatherford (WFT) to Overweight, Downgrades Baker Hughes (BHI)

JPMorgan's J. David Anderson issued somewhat of a pair trade Wednesday morning, upgrading shares of Weatherford International (NYSE: WFT) while at the same time downgrade Baker Hughes (NYSE: BHI) shares.

The analyst now rates Weatherford an Overweight, up from Neutral previously, and Baker Hughes a Neutral. Anderson maintained a $19 price target but reduced his target on Baker Hughes from $53 to $50.

While Weatherford is indicated nearly 3 percent higher in this morning's pre-open session, shares of Baker Hughes are down 0.5 percent.

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