Baker Hughes Stock Rating Lowered by Morgan Stanley (BHI)
Baker Hughes (NYSE:BHI) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $62.00 price objective on the stock, down from their previous price objective of $66.00. Morgan Stanley’s price objective points to a potential upside of 17.98% from the company’s current price.
The analysts wrote, “Market share continues to modestly erode, growing 100bps slower than peers.”
Baker Hughes (NYSE:BHI) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the company posted $0.73 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Iberia Capital downgraded shares of Baker Hughes from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday. Separately, analysts at RBC Capital downgraded shares of Baker Hughes from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, January 8th. They now have a $60.00 price target on the stock, down previously from $67.00. Finally, analysts at Cowen and Company downgraded shares of Baker Hughes from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, January 7th. They now have a $56.00 price target on the stock, down previously from $70.00. Fifteen analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Baker Hughes has a consensus rating of “Hold” and a consensus target price of $60.68.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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