Baker Hughes

BKR · NASDAQ

$55.65−$0.16 (−0.29%)TodayMarket closed · Oct 20, 7:51 PM ET

Prev close $55.81

BKR analyst rating

BuyConsensus of 16 analysts over the last 12 months. 81% rate it a buy.

Strong buy0
Buy13
Hold2
Underperform0
Sell1

12-month price target · 26 analysts

Average $73.42 (+31.9% upside)

Low: $51.51
Now: $55.65
High: $89.25

Upgrades and downgrades

The latest rating actions, newest first

BKR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 19, 2026	Maintains	Buy	$75.00 → $72.00	48%
UBS	Sep 30, 2026	Maintains	Neutral	$72.00 → $69.00	55%
Jefferies	Sep 29, 2026	Maintains	Buy	$80.00 → $77.00	58%
Goldman Sachs	Sep 29, 2026	Initiates	Buy	$71.00	62%
UBS	Sep 14, 2026	Maintains	Neutral	$70.00 → $72.00	55%
Susquehanna	Sep 10, 2026	Maintains	Positive	$72.00 → $75.00	56%
UBS	Sep 10, 2026	Maintains	Neutral	$71.00 → $70.00	55%
RBC Capital	Aug 25, 2026	Maintains	Outperform	$71.00 → $76.00	43%
Morgan Stanley	Aug 7, 2026	Initiates	Overweight	$70.00	73%
UBS	Jul 28, 2026	Maintains	Neutral	$73.00 → $71.00	55%

The case for and against

Updated Oct 14, 2026

Bull case

Baker Hughes is well positioned by its diversified mix of cyclical oilfield services and higher-margin industrial and energy technology exposure, which should reduce earnings volatility and improve free cash flow quality. The $13.6Bn Chart acquisition is a key catalyst because it is expected to be 11% EPS accretive in 2027, lift corporate EBITDA margins by 30bps/70bps in 2026/27, and support $325MM of annualized cost synergies within three years of close. In addition, solid IET momentum, including $4.9Bn of orders and a 1.5x book-to-bill in the first quarter, alongside a manageable net debt/EBITDA path toward 1.2x by 4Q28, reinforces a constructive long-term fundamental outlook.

Bear case

Baker Hughes is challenged by reliance on upstream activity and customer capital spending, which can quickly weaken demand for oilfield services and equipment when commodity prices, access to capital markets, or macroeconomic conditions deteriorate. Its downside cases assume OFSE, IET, and Chart revenues and margins fall short because lower activity and utilization reduce fixed-cost absorption, while regulatory pressure, customer consolidation, and turnkey contract cost overruns could further compress returns. Although the base businesses are said to remain largely on track and IET orders are still pacing near or above guidance, the outlook remains fragile given weak GTLS results, the expectation of $5.0Bn to $5.8Bn in 2027E EBITDA, and exposure to lower commodity prices and operational execution risk.

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