Market Overview

UPDATE: Morgan Stanley Downgrades Baker Hughes on Outperformance

Related BHI
5 Oil Stocks To Watch Before Labor Day Weekend
U.S. Puts 400,000 GoM Acres of Offshore Energy Under Hammer
Exxon Carries Out 'Major Evacuation' From Iraq (Fox Business)

In an report published Tuesday morning, Morgan Stanley analyst Ole Slorer downgrades Baker Hughes (NYSE: BHI) from Overweight to Equal-weight, lowering price target from $66 to $62.

The report states that BHI will unlikely outperform its peers until they reduce costs to close their margin gap. It is unlikely to follow through with this without an environment that will foster rapid growth. Ole notes, "Market share continues to modestly erode, growing 100bps slower than peers."

BHI closed previously on Monday at $52.55 and currently trading at $53.

Latest Ratings for BHI

DateFirmActionFromTo
Sep 2014Howard WeilUpgradesSector Perform
Jul 2014Guggenheim SecuritiesUpgradesNeutralBuy
Jul 2014BMO CapitalMaintainsOutperform

View More Analyst Ratings for BHI
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Ole SlorerAnalyst Color Downgrades Analyst Ratings

 

Related Articles (BHI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters