Baker Hughes: What Wall Street Analysts Expect

Analysts’ forecast for Baker Hughes

In this part, we’ll discuss Wall Street analysts’ forecast for Baker Hughes (BHGE) as of June 26.

Baker Hughes: What Wall Street Analysts Expect

Analysts’ ratings 

Approximately 44% of the Wall Street analysts tracking Baker Hughes rated it as a “buy” or some equivalent as of June 26. Approximately 56% of the sell-side analysts rated the company as a “hold,” while none of the analysts recommended a “sell” or some equivalent.

In comparison, all of the sell-side analysts tracking CARBO Ceramics (CRR) rated it as “hold” as of June 26.

Rating changes

On March 26–June 26, the percentage of analysts recommending a “buy” for Baker Hughes increased from 40% to 44%. As of June 26, 2017, ~44% of the sell-side analysts recommended a “buy” for Baker Hughes, while 56% recommended a “hold.”

Target prices 

Wall Street analysts’ mean target price for Baker Hughes as of June 26 was $37.8. Currently, Baker Hughes is trading at ~$33.1, which implies ~14% upside at its current price. Analysts’ mean target price for Baker Hughes was nearly unchanged a month ago.

Peers’ target prices 

The mean target price, surveyed among sell-side analysts, for NOW (DNOW) was $13.9 as of June 26. NOW was trading at $13.3 as of June 26, which implies nearly 5% returns at the current price. The mean target price, surveyed among the sell-side analysts, for Dril-Quip (DRQ) was $42.2 as of June 26. Dril-Quip was trading at ~$50.4 as of June 26, which implies 16% downside at the current price.

To learn more, read The Top 5 Oilfield Companies by Net Debt-To-Equity Ratio.