Baker Hughes Receives Upgrade from Argus Research: Analysts Predict Strong Growth Ahead
On October 25, 2024, Argus Research raised their rating for Baker Hughes (LSE:0RR8) from Hold to Buy.
Analysts Forecast 20.90% Price Increase
As of October 22, 2024, the one-year price target average for Baker Hughes stands at 44.26 GBX per share. This target ranges from a low of 36.29 GBX to a high of 55.54 GBX. The average price target implies a possible gain of 20.90% from the latest closing price of 36.61 GBX per share.
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Annual Revenue and Earnings Projections
Baker Hughes is expected to generate annual revenue of 27,622 million, reflecting an increase of 1.18% from previous projections. The anticipated annual non-GAAP EPS is 2.13.
Fund Sentiment Toward Baker Hughes
Currently, 1,682 funds and institutions report positions in Baker Hughes, registering a decrease of 11 owners or 0.65% compared to the last quarter. The average weight of all funds investing in 0RR8 has increased by 9.87%, now standing at 0.34%. In the past three months, institutional share ownership has risen by 2.57%, totaling 1,129,735K shares.
JPMorgan Chase currently holds 55,015K shares, accounting for 5.54% of the company. Previously, they reported 49,542K shares, marking an increase of 9.95%. However, the firm also reduced its portfolio allocation in 0RR8 by 82.27% over the last quarter.
Dodge & Cox maintains 46,059K shares, which equates to 4.64% ownership, down slightly from 46,165K shares, reflecting a decrease of 0.23%. They have, however, increased their allocation in 0RR8 by 8.37% during the last quarter.
Another significant player, Capital World Investors, holds 37,592K shares, representing 3.78% ownership. This is a decrease from the previous 46,768K shares, indicating a drop of 24.41%. The firm reduced its allocation in 0RR8 by 16.86% over the last quarter.
Additionally, DODGX – Dodge & Cox Stock Fund has maintained its position with 33,551K shares, reflecting 3.38% ownership and no change in the last quarter. Meanwhile, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 31,582K shares, or 3.18% ownership, up from 31,437K shares—an increase of 0.46%. Their allocation in 0RR8 grew by 2.56% during the last reporting period.
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This report originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
