Jefferies Reiterates Buy on Baker Hughes (BHI)

Jefferies is out with its report today on Baker Hughes BHI, reiterating Buy. In a note to clients, Jefferies writes, "BHI's 1Q EPS of $0.87 easily surpassed our $0.77 forecast and the $0.77 Consensus fueled by robust international performance. Despite weather and geopolitical disruptions, international margins surged about 320 bps as cost savings and efficiencies trumped the noise and offset lackluster NAM performance. Reiterate Buy and expect stock to react well." Jefferies has an $86 PT on BHI. At the time of posting, shares of BHI were trading pre-market at $78, up 5.32% from Tuesday's close.