- Baker Hughes' (BKR, Financial) shares rise 1.6% following an extension of its partnership with C3 AI (AI) until 2028, focusing on AI solutions for the energy sector.
- The company will deliver 16 NovaLT gas turbines for data centers in Wyoming and Texas, contributing up to 270 MW of power.
- Analysts' price targets suggest a significant upside potential for Baker Hughes, with a consensus indicating an "Outperform" status.
Baker Hughes Co. (BKR) shares experienced a noticeable uptick of 1.6% as the firm announced the extension of its joint venture with C3 AI (AI) through 2028. This strategic move is set to bolster AI-driven solutions within the energy sector, a promising development for both companies.
Strategic Initiatives and Energy Solutions
Further strengthening its market position, Baker Hughes has committed to supplying 16 NovaLT gas turbines to power data centers situated in Wyoming and Texas. These turbines are expected to generate a substantial 270 megawatts (MW) of power, marking a significant contribution to the infrastructure of these facilities.
Analyst Insights and Market Expectations
According to insights from 23 analysts, the one-year average price target for Baker Hughes stands at $47.24. With predictions ranging between a high of $56.00 and a low of $40.00, the average target suggests a potential upside of 26.44% from the current share price of $37.36. For a more in-depth analysis, investors can visit the Baker Hughes Co (BKR, Financial) Forecast page.
Brokerage Recommendations
The consensus from 26 brokerage firms places Baker Hughes at an average recommendation of 1.9, reflecting an "Outperform" rating. This evaluation is based on a scale where 1 signifies a Strong Buy and 5 indicates a Sell, demonstrating positive sentiment among market analysts.
GuruFocus Valuation
GuruFocus forecasts suggest a GF Value of $37.45 for Baker Hughes in the coming year. This estimate translates to a marginal upside of 0.24% from the present trading price of $37.36. The GF Value is derived from analyzing historical trading multiples of the stock, alongside past business performance and anticipated future growth. To explore further details, investors can refer to the Baker Hughes Co (BKR, Financial) Summary page.
