RBC Capital Keeps Their Buy Rating on Baker Hughes

By Ryan Adsit

In a report released yesterday, Kurt Hallead from RBC Capital reiterated a Buy rating on Baker Hughes (NYSE: BHI), with a price target of $72. The company’s shares closed yesterday at $55.45.

According to TipRanks.com, Hallead is a 4-star analyst with an average return of 7.2% and a 47.1% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Energy Transfer Partners LP, and Diamond Offshore Drilling.

Baker Hughes has an analyst consensus of Moderate Buy, with a price target consensus of $66.43.

The company has a one year high of $68.59 and a one year low of $41.74. Currently, Baker Hughes has an average volume of 2.5M.

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Baker Hughes, Inc. supplies oilfield services, products, technology, and systems to the worldwide oil and natural gas industry. It provide products and services for other businesses including downstream chemicals, and process and pipeline services. The company was founded in April 1987 and is headquartered in Houston, TX.