J.P. Morgan Maintains Overweight on Baker Hughes

J.P. Morgan is out with its report today on Baker Hughes BHI, maintaining Overweight. In a note to clients, J.P. Morgan writes, "Baker Hughes has come a long way, but the proof of the turnaround likely won't come until the international markets recover. Last cycle, BHI struggled to keep pace with SLB SLB and HAL HAL, largely because of its product-focused strategy and a lack of pressure pumping. But with both of those issues fixed following reorganization and the acquisition and integration of BJ Services, there are no more excuses, in our view." J.P. Morgan maintains a $90 PT on BHI. Shares of BHI closed Friday at $72.93, up 0.51% from Thursday's close.