Baker Hughes Incorporated (BHI) : Analyst Rating Update

Baker Hughes Incorporated (BHI) : 12 brokerage houses believe that Baker Hughes Incorporated (BHI) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 8 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Baker Hughes Incorporated (BHI). Zacks Investment Research suggests a Hold with a rank of 3. 2 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 23 Wall Street Analysts endorse the stock as a Buy with a rating of 2.

Baker Hughes Incorporated (BHI) : The highest short term price target forecast on Baker Hughes Incorporated (BHI) is $63 and the lowest target price is $38. A total of 20 equity analysts are currently covering the company. The average price of all the analysts is $50.05 with a standard deviation of $7.6.

Baker Hughes Incorporated (NYSE:BHI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $43.72 and $43.17 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $44.24. The buying momentum continued till the end and the stock did not give up its gains. It closed at $44.21, notching a gain of 0.36% for the day. The total traded volume was 1,413,076 . The stock had closed at $44.05 on the previous day.

Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Baker Hughes Incorporated (NYSE:BHI). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup raises the price target from $53 per share to $54 per share. The rating by the firm was issued on May 19, 2016. The company shares have dropped -26.26% from its 1 Year high price. On Jul 22, 2015, the shares registered one year high at $61.70 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $45.90 and the 200 Day Moving Average price is recorded at $44.38.

Baker Hughes Incorporated is engaged in the oilfield services industry. The Company is a supplier of oilfield services, products, technology and systems to the around the world oil and natural gas industry. The Company also provides industrial products and services to the downstream chemicals, and process and pipeline services. It conducts its operations through subsidiaries, affiliates, ventures and alliances. The Company has four geographical operating segments: North America, Latin America, Europe/Africa/Russia Caspian and Middle East/Asia Pacific. The Company also has an Industrial Services segment, which includes the downstream chemicals business and the process and pipeline services business. The Companys Integrated Operations is focused on the execution of projects that have attributes, such as project management, well site supervision, well construction, intervention, third-party contractor management, procurement and rig management.

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