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Research analysts at Cowen and Company hoisted their target price on shares of Baker Hughes (NYSE:BHI) from $75.00 to $81.00 in a report released on Thursday. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target would suggest a potential upside of 8.89% from the stock’s previous close.

Baker Hughes (NYSE:BHI) traded down 2.16% on Thursday, hitting $72.78. 4,216,154 shares of the company’s stock traded hands. Baker Hughes has a 52-week low of $46.09 and a 52-week high of $75.64. The stock has a 50-day moving average of $72.40 and a 200-day moving average of $65.09. The company has a market cap of $31.730 billion and a P/E ratio of 28.51. Baker Hughes also saw unusually large options trading on Wednesday. Stock traders bought 13,090 put options on the company. This is an increase of approximately 585% compared to the typical daily volume of 1,911 put options.

Baker Hughes (NYSE:BHI) last released its earnings data on Thursday, July 17th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.02. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter last year, the company posted $0.61 earnings per share. Baker Hughes’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that Baker Hughes will post $4.18 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs raised their price target on shares of Baker Hughes from $81.00 to $87.00 in a research note on Thursday, July 10th. Separately, analysts at Guggenheim upgraded shares of Baker Hughes from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 2nd. Finally, 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. Twelve analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $78.67.

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

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