Cowen and Company Increases Baker Hughes Price Target to $70.00 (BHI)
Research analysts at Cowen and Company increased their price objective on shares of Baker Hughes (NYSE:BHI) from $53.00 to $70.00 in a report released on Tuesday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective points to a potential upside of 25.00% from the company’s current price.
Shares of Baker Hughes (NYSE:BHI) traded up 1.70% on Tuesday, hitting $56.95. 471,742 shares of the company’s stock traded hands. Baker Hughes has a 1-year low of $39.44 and a 1-year high of $57.35. The stock has a 50-day moving average of $49.91 and a 200-day moving average of $47.43. The company has a market cap of $25.286 billion and a price-to-earnings ratio of 23.42.
Baker Hughes (NYSE:BHI) last announced its earnings results on Friday, October 18th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Baker Hughes will post $2.97 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BHI. Analysts at UBS AG raised their price target on shares of Baker Hughes from $56.00 to $62.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Societe Generale raised their price target on shares of Baker Hughes from $58.00 to $65.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of Baker Hughes from $47.00 to $56.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Thirteen research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.52.
Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.
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