Market Overview

UPDATE: Societe Generale Downgrades Baker Hughes to Hold on Cautious Outlook

Share:
Related BHI
Double-Digit Upside For These 3 Arbitrage Plays
Rig Counts Fell In North America On The Black Monday Week; Oil & Gas Stocks Still Surging
U.S. Oil Rig Counts Fall By 13 (Investor's Business Daily)

Societe Generale reduced its rating on Baker Hughes (NYSE: BHI) from Buy to Hold following a challenging quarter.

Societe Generale commented, "BHI's 3Q'12 results fell well short of expectations in all regions as a congruence of headwinds impacted operations. While many of these issues should prove transitory, it can take several quarters for operations to normalize in International markets, and a very slow US holiday drilling season will likely weigh heavily on Q4'12/Q1'13. BHI is considered by many investors to be a recovery story. A significant stumble such as Q3'12 could force BHI shares into the penalty box and the stock could underperform in the interim as investors adopt a more cautious stance."

Baker Hughes closed at $44.02 on Monday.

Latest Ratings for BHI

DateFirmActionFromTo
Aug 2015SusquehannaMaintainsPositive
Jul 2015CitigroupMaintainsBuy
May 2015JP MorganInitiates Coverage onNeutral

View More Analyst Ratings for BHI
View the Latest Analyst Ratings

Posted-In: Societe GeneraleAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (BHI)

Get Benzinga's Newsletters