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With a YTD Return of 35.11% as of May 7, Baker Hughes Company (NASDAQ:BKR) is included among the 10 Best Stocks to Buy to Beat the S&P 500.

On May 4, BofA raised its price recommendation on Baker Hughes Company (NASDAQ:BKR) to $80 from $69. It reiterated a Buy rating on the shares. The firm said Baker Hughes’ “unique position at the intersection of energy/industrial markets continues to drive differentiated financial performance.” The analyst also raised 2026 and 2027 EBITDA estimates by 2% each, citing stronger results from the IET segment and a better outlook for non-Middle East OFSE operations following the war in Iran.

During the Q1 2026 earnings call, Lorenzo Simonelli, Chairman, President, and CEO of Baker Hughes, discussed several portfolio actions taken by the company. He said Baker Hughes announced the divestiture of Waygate Technologies. Along with the sale of PSI to Crane and the joint venture with Cactus, the company expects these transactions to generate about $3 billion in gross proceeds during 2026.

Simonelli also pointed to strong demand trends within the Industrial & Energy Technology segment. He said bookings reached a record $4.9 billion during the quarter, while the IET business delivered a book-to-bill ratio of 1.5x. He added that remaining performance obligations climbed to a record $33.1 billion. According to Simonelli, the company is becoming more confident that its Horizon 2 IET order target will exceed $40 billion.

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers around the world. Its operations are divided into the Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments.

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