Wells Fargo upgraded Baker Hughes to Overweight from Equal Weight with a price target of $42, up from $40, as part of a broader research note on Energy Servieces. The firm is raising the multiple for the Industrial & Energy Technology segment, IET, reflecting better prospects and valuation opportunities for this diversified segment helping in offsetting the lower multiple for the Oilfield Services & Equipment segment, OFSE, which reflects its “muted views” for this business that is consistent with its peers, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKR:
- Baker Hughes upgraded to Overweight from Equal Weight at Wells Fargo
- Baker Hughes reports U.S. rig count down 2 to 588 rigs
- Baker Hughes price target lowered to $42 from $43 at Morgan Stanley
- C3.ai (AI) Stock Sheds 54% over Three Years, But Can it Change Direction?
- Baker Hughes reports U.S. rig count up 8 to 590 rigs