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Equities researchers at Goldman Sachs lifted their target price on shares of Baker Hughes (NYSE:BHI) from $81.00 to $87.00 in a research report issued on Thursday. Goldman Sachs’ target price points to a potential upside of 18.53% from the company’s current price.

Shares of Baker Hughes (NYSE:BHI) traded down 0.94% on Thursday, hitting $73.40. The stock had a trading volume of 2,942,523 shares. Baker Hughes has a 1-year low of $46.09 and a 1-year high of $75.64. The stock’s 50-day moving average is $72.14 and its 200-day moving average is $64.53. The company has a market cap of $32.001 billion and a P/E ratio of 28.40.

Baker Hughes (NYSE:BHI) last announced its earnings results on Thursday, April 17th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Baker Hughes will post $4.17 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on BHI. Analysts at Guggenheim upgraded shares of Baker Hughes from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 2nd. Separately, analysts at Susquehanna upgraded shares of Baker Hughes from a “neutral” rating to a “positive” rating in a research note on Wednesday, July 2nd. They now have a $90.00 price target on the stock, up previously from $77.00. Finally, analysts at Drexel Hamilton initiated coverage on shares of Baker Hughes in a research note on Friday, June 20th. They set a “buy” rating and a $90.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Baker Hughes presently has a consensus rating of “Buy” and an average target price of $78.29.

In other Baker Hughes news, CFO Peter A. Ragauss unloaded 10,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $74.65, for a total transaction of $746,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Baker Hughes Incorporated (NYSE:BHI) is engaged in the oilfield services industry.

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