Baker Hughes Company
Baker Hughes Company (NYSE: BKR) is an energy technology company that provides a wide range of products and services to consumers in the energy and industrial value chains. Its operating segments are 1) Oilfield Services (OFS), 2) Oilfield Equipment (OFE), 3) Turbomachinery & Process Solutions (TPS), and 4) Digital Solutions (DS). With operations in over 120 countries, it principally provides products and services in the upstream, middle, and downstream sections of the oil and gas sector. As of January 12, 2022, the company's market capitalization stood at USD 28.11 billion.
Valuation Methodology: EV/EBITDA Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's NTM trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
BKR Daily Technical Chart (Source: REFINITIV)
BKR's stock price has increased 31.35% in the past nine months and is currently leaning towards the higher band of its 52-week range of USD 18.75 to USD 27.66. The stock is currently trading above its 50 and 200 DMA levels, and its RSI Index is at 66.61. We have valued the stock using the EV/EBITDA multiple-based relative valuation methodology and arrived at a target price of USD 24.49.
Considering the uptick in the stock price, technical indicators, and current valuation, we believe the decent business fundamentals are adequately reflected at current trading levels. Hence, we recommend a "Sell" rating on the stock at the closing price of USD 26.73, down 0.85%, as of January 12, 2022.
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.
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