Susquehanna Upholds Positive Rating For Baker Hughes (BKR)

Baker Hughes Co. (NASDAQ:BKR) is one of the 10 oversold NASDAQ stocks to invest in right now.

On July 8, Susquehanna reduced its target price for Baker Hughes Co. (NASDAQ:BKR) from $80 to $70, resulting in a revised upside potential of almost 33%. The firm also reiterated its Positive rating on the stock after making changes to its model prior to the forthcoming earnings announcements.

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Susquehanna noted that the commodity prices had dropped and then risen back to normal levels, which has led to changes in estimates for the broader industry. It anticipates an optimistic mid-term outlook despite the uncertainties linked with the U.S.-Iran conflict. This is supported by expectations of elevated spending on oilfield services during the coming years.

Back on June 25, Baker Hughes Co. (NASDAQ:BKR) disclosed a substantial award from Azule Energy to offer subsea production solutions for the Greater PAJ project in Angola. As part of the agreement, the company will provide deepwater horizontal tree systems to facilitate ultra-deep offshore greenfield output. The company will also deliver intervention workover control solutions, subsea control units, and related distribution, linkage, and surface machinery.

Baker Hughes Co. (NASDAQ:BKR) offers a range of solutions to the energy and industrial value chain. It is engaged in the development, production, and decommissioning of products and services for onshore and offshore oilfield functions. It also sells software for optimization, climate technology solutions, after-market support, and more.

While we acknowledge the risk and potential of BKR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BKR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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