Baker Hughes on Solid Ground

Baker Hughes Incorporated (BHI - Analyst Report) reported in-line third quarter results with a 12% year-over-year increase in revenue despite disruptions from this year's Gulf Coast hurricanes.

While near-term commodity-price weakness may weigh on the stock price, the company's long-term prospects remain positive, given its leading portfolio of technologies, a significantly expanding international infrastructure, and a solid balance sheet. Baker Hughes Inc. is in excellent financial health, with an investment-grade credit profile and plenty of cash on hand.

Given the expected slowdown in activity levels, particularly in North America, we have lowered our estimates and price objective. Our Buy recommendation remains unchanged.

Read the full analyst report on BHI

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