Baker Hughes Company, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Marc Bianchi from TD Cowen maintained a Buy rating on the stock and has a $57.00 price target.
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Marc Bianchi has given his Buy rating due to a combination of factors including Baker Hughes Company’s strong financial performance and strategic initiatives. The company has consistently exceeded its guidance, with a notable 4% EBITDA beat in the third quarter and a positive outlook for the fourth quarter. This track record of surpassing expectations suggests a robust operational execution.
Baker Hughes is also involved in strategic transactions, such as the acquisition of Continental Disc and the Surface Pressure Control joint venture with Cactus, which are expected to generate significant cash proceeds. Additionally, the company’s strong order book, particularly in the IET segment, and its commitment to achieving higher margins by 2026 further support the positive outlook. These factors, combined with an extended LNG outlook and promising prospects in non-oil and gas markets, underpin Bianchi’s Buy rating for Baker Hughes.
Bianchi covers the Energy sector, focusing on stocks such as Helmerich & Payne, NOV, and Baker Hughes Company. According to TipRanks, Bianchi has an average return of 0.3% and a 42.34% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $54.00 price target.