Baker Hughes (NYSE:BHI) Should Perform Solidly in 2011

Acknowledging Baker Hughes (NYSE:BHI) underperformed some of their peers, FBR still sees them as having a strong 2011.

FBR analyst says, "Although the company's reported results were slightly weaker than some of its peers, expectations were too low. We believe that Baker is successfully integrating BJ Services and look for a solid performance into 2011."

FBR Capital maintains a "Market Perform" rating on Baker Hughes (BHI), which was trading at $65.12, gaining $2.80, or 4.49 percent, as of 12:58 PM EST. FBR raised their price target on Baker Hughes from $59 to $72.