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Baker Hughes Jumps as Barclays Optimistic About Oil Services
Baker Hughes was upgraded to overweight from equal weight at Barclays. The time to own oilfield services is now, the investment firm says.
Author:
Shares of Baker Hughes (
BKR) jumped on Monday after Barclays analysts upgraded the stock to overweight from equal weight on a bullish outlook for global oil markets. The time to own [oilfield services] is now, Analyst J. David Anderson said, according to Bloomberg.
Anderson raised his price target on the Houston company to $28 a share from $25.
At last check Baker Hughes was up 8.8% to $21.85.
Anderson upgraded his industry view on the oilfield services and equipment sector to positive.