Global Hunter Securities Downgrades Baker Hughes (BHI) to Accumulate; Operational Issues
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Price: $57.68 --0%
Rating Summary:
15 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 20 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Global Hunter Securities downgraded Baker Hughes (NYSE: BHI) to Accumulate, price target cut from $71 to $60.
Global analyst said, "BHI's Q4 results in NAM reminded us of Neal and Del's trip in 'Planes, Trains & Automobiles,' as it apparently could not get to the end location for its equipment without major hindrances. While it did not go as far as to light the rental car on fire, it is far from making it in time for Thanksgiving dinner, as issues should persist through 1H 2012. We had favored BHI for its leverage to segments that continue to have pricing momentum and strong margins, but as those are masked by operational inefficiencies we are bringing in our price target and rating."
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.
Global analyst said, "BHI's Q4 results in NAM reminded us of Neal and Del's trip in 'Planes, Trains & Automobiles,' as it apparently could not get to the end location for its equipment without major hindrances. While it did not go as far as to light the rental car on fire, it is far from making it in time for Thanksgiving dinner, as issues should persist through 1H 2012. We had favored BHI for its leverage to segments that continue to have pricing momentum and strong margins, but as those are masked by operational inefficiencies we are bringing in our price target and rating."
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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