B.Riley FBR Reiterates a Buy Rating on Baker Hughes a GE company (BHGE)


B.Riley FBR analyst Tom Curran reiterated a Buy rating on Baker Hughes a GE company (NYSE: BHGE) today. The company’s shares opened today at $31.56.

Curran observed:

“Based on takeaways from a Street conference last week, a deep dive on the next wave of foreign LNG projects, and other newsflow since late August, we’ve concluded that Baker Hughes’ (BHGE) (1) aggregate expected LNG opportunity (at least 65 MTPA of FIDs over the next two years) could readily be covered by the RoW (rest of the world), and still the core U.S. project set has continued to make strides, without a single slowdown or suspension yet due to tariff threats; (2) global offshore market has been showing ever more visible and convincing signs of strong growth next year (9%-12%), and (3) financial and return-of-capital initiatives remain firmly on track. We’d take advantage of this latest pullback in the stock to be aggressive buyers.”

According to TipRanks.com, Curran ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.1% and a 42.6% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Select Energy Services Inc, and Diamond Offshore Drilling.

Baker Hughes a GE company has an analyst consensus of Strong Buy, with a price target consensus of $37.13.

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The company has a one-year high of $38.10 and a one-year low of $25.53. Currently, Baker Hughes a GE company has an average volume of 3.67M.

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Baker Hughes, a GE Co. is a holding company, which engages in the provision of oilfield products, services, and digital solutions. Through its subsidiaries, it helps its customers acquire, transport, and refine hydrocarbons a smaller environmental footprint. It offers products and services for upstream, midstream, downstream, industrial, and digital.

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