Goldman Sachs Backs Baker Hughes with $71 Price Target

Goldman Sachs has resumed coverage of Baker Hughes Co. ( ticker not provided) with a buy rating and set a price target of $71.00, citing growth opportunities from operational and geographic synergies following the addition of Chart Industries.

The investment bank highlighted Baker Hughes' diversified oilfield services and equipment business, which it said provides durable earnings with upside from activity additions.

Goldman Sachs estimates a 10% EBITDA compound annual growth rate through 2031, with a valuation range of $68 to $81 per share following the close of the Chart transaction. The firm's analysis suggests the stock is undervalued and offers an attractive entry point for investors.