Market Overview

UPDATE: Morgan Stanley Downgrades Baker Hughes on Outperformance

Related BHI
Global Hunter Securities Adjusts Coverage On Several Oil & Energy Stocks
Why Morgan Stanley Thinks The Oil Services Sector Will Evolve To Survive Collapse In Crude Prices
Energy Sector Seen as Biggest Risk to Deal Flow in 2015 (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
Dec 2014CitigroupMaintainsBuy
Dec 2014RBC CapitalUpgradesSector PerformOutperform
Dec 2014JefferiesMaintainsBuy

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...

Get Benzinga's Newsletters