Baker Hughes Co Class A
BKR: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$29.00 | Jvs | Bfrylbjf |
Baker Hughes Earnings: Energy Demand and Margin Improvement Opportunity Remain Underappreciated
We see no reason to change our $39 fair value estimate for no-moat-rated Baker Hughes. The company’s first-quarter earnings results were largely in line with our expectations. Revenue of roughly $6.4 billion rose 12% year on year driven by Baker Hughes’ industrial and energy technology, or IET, business. While IET represents a smaller portion of Baker’s sales mix, we consider it the better business.