Baker Hughes (BHI +3%) is upgraded to Buy from Hold with a $54 price target at Societe Generale,...

|About: Baker Hughes Inc. (BHI)|By:, SA News Editor

Baker Hughes (BHI +3%) is upgraded to Buy from Hold with a $54 price target at Societe Generale, which says BHI boasts the largest per share exposure to deepwater Gulf of Mexico growth. The mix driving the 2012 U.S. land activity pullback looks to favor Halliburton (HAL) and Schlumberger (SLB) onshore, but BHI's deep Gulf leverage rebalances its relative risk/reward proposition, the firm says.