BKR Price Prediction Next Week
Based on the provided data and technical analysis, here's the price prediction for BKR for the next trading week:
Technical Analysis
The technical indicators show:
- RSI(14) at 64.16 indicates slightly overbought conditions but not extreme
- MACD at 1.21 suggests positive momentum
- Current price ($45.53) is trading above both SMA20 ($43.71) and SMA200 ($36.57), indicating a strong uptrend
Price Levels
- Fibonacci resistance levels: R1: $47.07, R2: $48.18, R3: $49.99
- Fibonacci support levels: S1: $43.46, S2: $42.35, S3: $40.55
- Fibonacci pivot: $45.27
News Sentiment Analysis
- Positive: Morgan Stanley included BKR in their top 20 AI-driven stocks list
- Positive: Jefferies raised price target to $50, maintaining Buy rating
- Neutral to Negative: U.S. rig count declined for three consecutive weeks, reaching lowest since December 2021
- Positive: Morgan Stanley recommends BKR as a top pick due to exposure to gas markets, operational spending, and digital solutions
Price Prediction for Next Week Based on technical and fundamental analysis:
- Base case (60% probability): $46.50-$47.50
- Bullish case (25% probability): $48.00-$49.00
- Bearish case (15% probability): $43.50-$44.50
Trading Recommendation: BUY Entry point: Current market price ($45.53) Target: $47.07 (First resistance level) Stop loss: $43.46 (First support level)
The recommendation is based on:
- Strong technical uptrend
- Positive analyst sentiment
- Strategic positioning in gas markets and digital solutions
- Defensive characteristics in challenging energy market
BKR Similar Chart Price Prediction
The price of BKR is predicted to go up 2.2%, based on the high correlation periods with T. The similarity of these two price pattern on the periods is 98.62%.
BKR
T
Up: 2.2%Similarity: 98.62%
BKR Revenue Forecast
BKR EPS Forecast
BKR FAQs
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BKR VS S&P500
Baker Hughes will realize a more profitable product mix as gas technology equipment orders yield higher service orders over time.
The firm's strong market share in several oilfield services specializations (such as directional drilling) will drive significant contract wins as well operators seek to maximize production efficiency.
High demand for liquid natural gas refineries over the next decade will ensure a robust project pipeline for Baker Hughes even if oil demand falls.
BKR Analyst's Forecast
James West
Evercore ISI Group
Buy
Price Target
$46 → $52
Upside
+13.65%
Evercore ISI raised the firm's price target on Baker Hughes to $52 from $46 and keeps an Outperform rating on the shares. The firm says oilfield services stocks have been hit with the "dual negatives" of a low growth North America contending with a "rapidly consolidating customer base and capital restraint internationally that has ended any semblance of a coordinated global upcycle for the industry." This combines with "wobble" in second half of 2024 oil prices, the analyst tells investors. Evercore's global exploration and production spending survey anticipates flat spending in 2025. It reduced 2025 estimates by 10% across the sector to reflect a more cautious spending outlook and downgraded eight names in the group.
Lloyd Byrne
Jefferies
Strong Buy
Price Target
$48 → $50
Upside
+17.14%
David Anderson
Barclays
Buy
Price Target
$46 → $52
Upside
+29.34%