Zacks Investment Research upgraded shares of Baker Hughes Incorporated (BHI) from NEUTRAL to OUTPERFORM on July 30, 2014, with a target price of $86.00.
We are upgrading our recommendation on Baker Hughes Inc. to Outperform from Neutral. In the second quarter both the revenue and earning increased on an annual basis. The growth stemmed mainly from the rising sale of newly introduced well construction and production technologies as well as increased onshore and offshore activities in the U.S. Further, improved demand for high technology services in Africa, the Middle East and Asia Pacific as well as increased activities in the Gulf of Mexico (GoM) aided the performance. Baker Hughes, one of the major oilfield service companies in the world, appears to be focusing on the international and offshore markets for near-term growth.
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