Oilfield services provider Baker Hughes Incorporated (BHI) on Thursday caught a big downgrade from analysts at Deutsche Bank.

The firm said it cut its rating on BHI from “Buy” to “Hold” with a $47 price target, suggesting a nearly 13% upside to the stock’s Wednesday closing price of $41.72.

Deutsche Bank said it made the move due to lower profit margins in the company’s North American markets.

Baker Hughes shares posted small losses in premarket trading Thursday.

The Bottom Line
Shares of Baker Hughes (BHI) have a 1.44% dividend yield, based on last night’s closing stock price of $41.72. The stock has technical support in the $35 price area. If the shares can firm up, we see overhead resistance around the $45-$48 price levels.

Baker Hughes Incorporated (BHI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.