Dahlman Rose Downgrades Baker Hughes to "Hold" (BHI)

Dahlman Rose Downgrades Baker Hughes to “Hold” (BHI)


Dahlman Rose reported on Monday that they have downgraded oil services company, Baker Hughes Incorporated(BHI) to a “Hold.”

The firm has cut their rating for BHI from a “Buy” to a “Hold.” Additionally, the firm reported downgrades on eight other oil services company which have recently reported strength.

An analyst from the firm commented, “we continue to have a positive view on the performance of the oil service group,” the analyst said. “At this point, we have a clear preference for those companies strongly exposed to the multiyear upturn forecast for international exploration and production spending and those oriented toward the exceptional outlook for ultra-deepwater. Given the sluggish outlook for North American E&P spending and the outperformance recently of North America-oriented stocks, we are deemphasizing this group.”

Baker Hughes shares were down 41 cents, or -0.90% during premarket trading Monday. The stock has declined -4% in the past year.

The Bottom Line
Shares of Baker Hughes Incorporated(BHI) have a 1.31% yield, based on Friday’s closing price of $45.65.

Baker Hughes Incorporated(BHI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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