Baker Hughes (NASDAQ:BKR) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Baker Hughes’ price target from $71 to $70 but maintained an “outperform” rating, implying 28.35% potential upside from the previous close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and average price target of $71.14; 18 of 21 analysts rate the stock Buy or Strong Buy.
• Baker Hughes exceeded third-quarter earnings and revenue estimates, while strong AI infrastructure, data-center power, LNG and subsea orders are supporting its growth outlook and backlog.

Baker Hughes (NASDAQ:BKR - Get Free Report) had its price target reduced by investment analysts at Royal Bank Of Canada from $71.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 28.35% from the stock's previous close.

A number of other brokerages have also recently commented on BKR. Zacks Research raised shares of Baker Hughes from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 16th. Piper Sandler dropped their price target on shares of Baker Hughes from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday. Citigroup cut their price objective on shares of Baker Hughes from $75.00 to $72.00 and set a "buy" rating for the company in a research report on Monday, October 19th. The Goldman Sachs Group initiated coverage on Baker Hughes in a research note on Tuesday, September 29th. They issued a "buy" rating and a $71.00 price objective for the company. Finally, Wolfe Research assumed coverage on Baker Hughes in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $70.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $71.14.

Baker Hughes Stock Performance

BKR stock traded down $0.12 during trading on Thursday, reaching $54.54. The stock had a trading volume of 4,406,309 shares, compared to its average volume of 8,664,801. The firm has a market cap of $54.14 billion, a PE ratio of 17.61, a PEG ratio of 2.66 and a beta of 1.04. The company has a current ratio of 2.09, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The stock's 50 day moving average is $58.48 and its two-hundred day moving average is $59.99. Baker Hughes has a 52 week low of $44.26 and a 52 week high of $70.41.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the company posted $0.68 EPS. The business's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Baker Hughes will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On Baker Hughes

Hedge funds have recently modified their holdings of the company. Amundi raised its position in shares of Baker Hughes by 28.2% during the 1st quarter. Amundi now owns 10,946,464 shares of the company's stock valued at $668,282,000 after purchasing an additional 2,409,978 shares during the period. First Trust Advisors LP increased its stake in Baker Hughes by 4.0% in the 1st quarter. First Trust Advisors LP now owns 9,663,737 shares of the company's stock worth $589,971,000 after buying an additional 374,974 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Baker Hughes by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company's stock worth $411,391,000 after buying an additional 119,388 shares in the last quarter. Perpetual Ltd increased its stake in Baker Hughes by 24.0% in the 3rd quarter. Perpetual Ltd now owns 3,958,604 shares of the company's stock worth $217,327,000 after buying an additional 765,582 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Baker Hughes by 5.1% during the first quarter. Bank of America Corp DE now owns 3,837,618 shares of the company's stock valued at $234,287,000 after acquiring an additional 184,897 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes News Summary

Here are the key news stories impacting Baker Hughes this week:

• Positive Sentiment: AI infrastructure demand is a major growth catalyst. Baker Hughes secured an approximately 1.1-gigawatt order from a major U.S. technology company for power-generation and cooling solutions, including turbines, generators, gearboxes and Chart dry coolers. Major U.S. Technology Company Selects Baker Hughes’ Power Generation and Cooling Solutions
• Positive Sentiment: Integrated Energy Technologies momentum improved. Management raised its 2026 IET orders outlook to $21.5 billion-$23.5 billion as data-center power and LNG demand strengthened the backlog. Third-quarter orders totaled $10.8 billion, while total remaining performance obligations reached a record $46.4 billion, including $39.4 billion in IET. BKR Q3 Earnings Call Raises IET Outlook as Backlog Builds
• Positive Sentiment: Baker Hughes also won a significant subsea production-systems and services contract from Eni for the Cronos gas development offshore Cyprus, booked in the third quarter. Baker Hughes Wins Subsea Award for Eni’s Cronos Gas Development
• Neutral Sentiment: Adjusted third-quarter EPS of $0.70 and revenue of $8.03 billion exceeded consensus estimates of $0.61 and $7.75 billion, respectively. The company also declared its regular $0.23-per-share quarterly dividend.
• Negative Sentiment: Despite the adjusted earnings beat, reported profit declined year over year, increasing concerns that near-term earnings are not fully reflecting the strong order momentum.
• Negative Sentiment: Barclays lowered its BKR price target from $72 to $62 and maintained an “equal weight” rating, signaling more limited upside expectations even though the new target remains above the current share price. Barclays Stock Recommendations

About Baker Hughes

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides products, services and digital solutions for the oil and gas industry and other energy-related markets. Its offerings support the exploration, drilling, completion, production and maintenance of energy assets across the lifecycle of a project.

The company's oilfield services and equipment business provides technologies such as drilling systems, well completions, artificial lift, subsea equipment, production chemicals and well intervention services.

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