In a report released today, Connor Lynagh from Morgan Stanley maintained a Buy rating on Baker Hughes Company (BKR), with a price target of $19.00. The company’s shares closed last Thursday at $14.65.
According to TipRanks.com, Lynagh ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -17.9% and a 34.5% success rate. Lynagh covers the Services sector, focusing on stocks such as Independence Contract Drilling, Nextier Oilfield Solutions, and Liberty Oilfield Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Baker Hughes Company with a $18.00 average price target, which is a 16.0% upside from current levels. In a report issued on June 26, Piper Sandler also maintained a Buy rating on the stock with a $20.00 price target.
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Based on Baker Hughes Company’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.43 billion and GAAP net loss of $10.21 billion. In comparison, last year the company earned revenue of $5.62 billion and had a net profit of $32 million.
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Baker Hughes Co. is a holding company. The firm engages in the provision of oilfield products, services, and digital solutions. It operates through the following segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention. The OFE segment provides a broad portfolio of products and services required to facilitate the safe and reliable flow of hydrocarbons from the subsea wellhead to the surface production facilities. The TPS segment provides equipment and related services for mechanical-drive, compression and power-generation applications. The DS segment provides operating technologies helping to improve the health, productivity, and safety of asset intensive industries and enable the Industrial Internet of Things. The company was founded in April, 1987 and is headquartered in Houston, TX.
