NEW YORK (TheStreet) -- Baker Hughes (BHI) shares are 1% to $55.70 in trading on Wednesday after the oilfield service company was upgraded to "focus stock" from "sector outperform" by analysts at energy investment boutique firm Howard Weil.
The firm currently has a $71 price target on the company's shares, a potential upside of 27.4%.
Oil and oil service stocks have also gained today as the price of a barrel crude oil moved back above five year lows. The price of a barrel of Brent crude rose 1.9% to $61.18 while the price of a barrel of light, sweet crude for January delivery rose 1% to $56.47 on the New York Mercantile Exchange.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates BAKER HUGHES INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BAKER HUGHES INC (BHI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."