Here’s Why These Five Stocks Are in the Spotlight

Although it is currently 2% in the red due to some profit taking, Baker Hughes Incorporated (NYSE:BHI) received the thumbs up from Argus today, as analyst Bill Selesky raised his price target on the stock to $65 from $56 and maintained his ‘Buy’ rating on the name. Selesky expects the combination of Baker Hughes and General Electric Company (NYSE:GE)’s oil and gas unit to better compete against Schlumberger Limited. (NYSE:SLB) and Halliburton Company (NYSE:HAL) due to various synergies and GE’s digital tech, which is widely regarded as cutting edge among analysts. The number of funds in our database with holdings in Baker Hughes Incorporated (NYSE:BHI) rose by one quarter-over-quarter to 44 at the end of June.

A day after Goldman Sachs gave the integrated producer its stamp of approval, rival investment bank Morgan Stanley has also upgraded Chevron Corporation (NYSE:CVX), as analyst Evan Calio upgraded the stock to ‘Overweight’ from ‘Equal Weight’ and set a $130 price target on it. Calio believes Chevron’s free cash flow will benefit from major project ramp-ups such as Wheatstone and Gorgon, and that the free cash flow increase will help sustain the company’s dividend growth. The analyst also thinks Chevron has the best short-cycle opportunity worldwide given its assets in the Permian. 47 funds that we track owned shares of Chevron Corporation (NYSE:CVX) at the end of June.

Johnson Controls International plc Ordinary Share (NYSE:JCI) shares are almost 2% in the green after Joe Ritchie of Goldman Sachs upgraded the stock to ‘Conviction Buy’ from ‘Buy’ and reiterated his $46 price target on it. Ritchie believes Johnson Control’s fundamentals are on an upward trend, given the company’s attention to costs and its solid execution. The analyst also likes Johnson Controls’ inexpensive valuation and thinks organic growth could cause the stock to rally. 32 funds in our system had a long position in Johnson Controls International plc Ordinary Share (NYSE:JCI) at the end of June, up by five funds from the end of March.

Disclosure: None