Wednesday, November 3, 2010

Citigroup (NYSE:C) Sees Baker Hughes (NYSE:BHI) Performing Strong

Citing the recent strong quarter from Baker Hughes (NYSE:BHI), Citigroup (NYSE:C) sees them continuing on in that performance going forward.

Citigroup raised their 2010 EPS estimate from $1.75 to $2.02 a share, and its 2011 EPS forecast from $2.80 to $3.30 a share.

A "Hold" rating was maintained on Baker by Citi.

Baker Hughes closed Tuesday at $49.28, gaining $0.91, or 1.88 percent. Citigroup increased their price target on them from $49 to $56.

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