Baker Hughes a GE company Received its Third Buy in a Row

By Austin Angelo

After Merrill Lynch and Piper Jaffray assigned a Buy rating to Baker Hughes a GE company in the last month, the company received another Buy, this time from Cowen & Co.. Analyst Marc Bianchi reiterated a Buy rating on Baker Hughes a GE company (NYSE: BHGE) today and set a price target of $40. The company’s shares opened today at $32.24.

According to TipRanks.com, Bianchi is ranked 0 out of 5 stars with an average return of -7.1% and a 37.9% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Oil States International.

Currently, the analyst consensus on Baker Hughes a GE company is Moderate Buy and the average price target is $34.50, representing a 7.0% upside.

In a report issued on April 2, Merrill Lynch also upgraded the stock to Buy with a $33 price target.

Based on Baker Hughes a GE company’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $5.76 billion and quarterly net profit of $31 million. In comparison, last year the company earned revenue of $2.26 billion and had a GAAP net loss of $129 million.

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Baker Hughes, a GE Co. is a holding company, which engages in the provision of oilfield products, services, and digital solutions. Through its subsidiaries, it helps its customers acquire, transport, and refine hydrocarbons a smaller environmental footprint. It offers products and services for upstream, midstream, downstream, industrial, and digital.