On September 11, Baker Hughes fell 3.06% in regular trading, trading at $57.57/share with turnover of $166 million, extending the prior session's decline.
On the news front, UBS recently lowered its price target on Baker Hughes to $70 from $71 while maintaining a neutral rating. Additionally, Barclays flagged in a conference call that shifts in LNG equipment delivery timelines and sluggish hydrogen demand are creating dual headwinds for the company's near-term profitability. Although Baker Hughes previously raised its full-year revenue guidance to $28.5 billion to $30.3 billion — well above the prior range of $26.65 billion to $28.05 billion — and completed its $13.6 billion acquisition of Chart Industries, short-term earnings visibility concerns continue to weigh on sentiment.
Within the Oil & Gas Equipment & Services sector, peers also traded lower: SLB Ltd fell 0.45%, Halliburton declined 1.30%, and TechnipFMC dropped 0.65%, reflecting broad-based sector pressure.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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