UPDATE: Credit Suisse Reiterates On Baker Hughes Following Analyst Meeting

In a report published Wednesday, Credit Suisse analyst James Wicklund reiterated an Outperform rating on

, and raised the price target from $83.00 to $96.00. In the report, Credit Suisse noted, “The BHI analyst meeting was very positive, with many misunderstanding the message and intent of the forward guidance, which we took as very positive. Showcasing a number of new digital technologies, rather than focusing on their broad suite of manufactured products was very positive, surprising many with the capability and depth. The message on the cultural shift was significant, considering the history of the past few yrs., and demonstrates the positive and aggressive stance and outlook. The meeting confirmed our belief in our Outperform.” Baker Hughes closed on Tuesday at $70.10.