Baker Hughes Price Target Raised to $67.00 at RBC Capital (BHI)
Investment analysts at RBC Capital boosted their price objective on shares of Baker Hughes (NYSE:BHI) from $58.00 to $67.00 in a note issued to investors on Sunday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price indicates a potential upside of 20.61% from the stock’s previous close.
Baker Hughes (NYSE:BHI) opened at 55.55 on Friday. Baker Hughes has a 52-week low of $39.44 and a 52-week high of $50.72. The stock has a 50-day moving average of $47.7 and a 200-day moving average of $46.52. The company has a market cap of $24.664 billion and a P/E ratio of 23.23.
Baker Hughes (NYSE:BHI) last posted its quarterly earnings results on Friday, October 18th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.78 by $0.03. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Baker Hughes will post $2.97 earnings per share for the current fiscal year.
BHI has been the subject of a number of other recent research reports. Analysts at Susquehanna raised their price target on shares of Baker Hughes from $50.00 to $56.00 in a research note to investors on Wednesday, October 16th. They now have a “neutral” rating on the stock. Separately, analysts at BMO Capital Markets upgraded shares of Baker Hughes from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, October 16th. They now have a $65.00 price target on the stock, up previously from $51.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Baker Hughes in a research note to investors on Friday, October 11th. They now have a $58.00 price target on the stock, up previously from $56.00. Fourteen investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $54.38.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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