Market Overview

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

Related BHI
Oil ETFs Show Muted Reaction To Price Bearish Rig Count Data
Oil Pumps Higher On Surprise 3.8 Million Barrel Draw In Oil Inventory
Halliburton Company: First Benefactor Of Recovering Oil Prices (Seeking Alpha)

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

Oct 2016CitigroupMaintainsBuy
Sep 2016Loop CapitalInitiates Coverage onHold
Sep 2016CitigroupMaintainsBuy

View More Analyst Ratings for BHI
View the Latest Analyst Ratings

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


Related Articles (BHI)

View Comments and Join the Discussion!