Baker Hughes Partners with Hydrostor for Strategic Energy Solutions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: Newsfilter
- Strategic Partnership: Baker Hughes and Hydrostor have signed a strategic technology solutions and equity agreement, aiming to integrate Baker Hughes' technological capabilities into Hydrostor's core design for its advanced compressed air energy storage (A-CAES) solution, marking a deepening of their relationship.
- Equipment Order Scale: The collaboration includes up to 1.4 GW of equipment orders from Baker Hughes, supporting the construction of Hydrostor's flagship projects in the U.S. and Australia, which is expected to significantly enhance the project's power generation and compression technology capabilities.
- Market Demand Response: As pressure on electric grids increases, long-duration energy storage has become an urgent necessity, and Hydrostor's innovative approach offers a low-carbon solution to ensure power reliability across diverse generation resources, aligning with global sustainability goals.
- Investment Background: Baker Hughes has been an investor in Hydrostor since 2019, and the signing of this agreement not only expands their partnership but also provides financial security for Hydrostor's project pipeline expansion, helping to meet the growing global electricity demand.
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Analyst Views on BKR
Wall Street analysts forecast BKR stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BKR is 55.17 USD with a low forecast of 52.00 USD and a high forecast of 61.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 56.630
Low
52.00
Averages
55.17
High
61.00
Current: 56.630
Low
52.00
Averages
55.17
High
61.00
About BKR
Baker Hughes Company is an energy technology company with a portfolio of technologies and services that span the energy and industrial value chain. The Company operates in two segments: Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET). OFSE segment provides products and services for onshore and offshore oilfield operations across the lifecycle of a well, ranging from exploration, appraisal, and development, to production, rejuvenation, and decommissioning. OFSE is organized into four product lines: Well Construction; Completions, Intervention, and Measurements; Production Solutions, and Subsea and Surface Pressure Systems. IET segment provides technology solutions and services for mechanical-drive, compression and power-generation applications across the energy industry, including oil and gas, liquefied natural gas (LNG) operations, downstream refining and petrochemical markets, as well as lower carbon solutions to broader energy and industrial sectors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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