UBS, Citi Raise Baker Hughes (BKR) Targets Ahead of Energy Recovery

Baker Hughes Company (NASDAQ:BKR) is one of the best hydrogen stocks to buy right now. On December 12, UBS raised the price target for Baker Hughes Company (NASDAQ:BKR) to $54 from $48 while keeping a Neutral rating on the shares. UBS stated that the change reflects a broader positive outlook for the Energy sector heading into 2026, following three years of limited gains.

UBS said it favors natural gas exploration and production companies. However, it expects positive momentum to spread broadly across oil exploration and production firms as well as oilfield services (OFS) providers like Baker Hughes. Some of the things the analysts like about Baker Hughes include improving outlooks for oil and natural gas prices and demand, benefits from mergers and acquisitions that create value, cost reductions and capital expenditure efficiencies in the industry, new opportunities emerging in oilfield services, and attractive overall valuations in the Energy sector.

In a different update, on December 11, Citi lifted its price target for Baker Hughes to $61 from $55 and maintained a Buy rating on the shares. Citi said the adjustment was made as part of its 2026 outlook for the oil and gas equipment and services group. In Citi’s view, the industry is at the bottom of a two-year downcycle, but with potential for improved share performance in 2026 due to stable earnings estimates.

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that develops and delivers technologies for the entire hydrogen value chain. Its main products are hydrogen-enabled turbines, compressors, valves, centrifugal pumps, non-metallic pipes, sensors, and monitoring systems.

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Disclosure: None. This article is originally published at Insider Monkey.