Baker Hughes (BHI -1.7%) shares continue their recent slide as Wells Fargo lowers its rating to...

|About: Baker Hughes, a GE company (BHGE)|By:, SA News Editor

Baker Hughes (BHI -1.7%) shares continue their recent slide as Wells Fargo lowers its rating to Market Perform and cuts its target price range to $52-54 from $74-76, citing “expectations for a longer wait for the [fracking] market to re-tighten." Last week, BHI warned Q1 profit and operating margin would be lower than forecast due to a lack of demand for fracking machinery.