Jefferies Reiterates Buy Rating for Baker Hughes (NASDAQ: BKR) Amidst Data Center Power Deal

Font: Financial Modeling Prep  • Jul 09, 2026

• Investment firm Jefferies has reaffirmed its "Buy" rating for Baker Hughes, reflecting strong positive sentiment from the investment community.
• Baker Hughes has secured a new multi-year agreement with Kodiak Gas Services to provide power generation solutions, targeting 1 gigawatt for U.S. data centers by 2030, with potential for 1.8 gigawatts long-term.
• Following the partnership announcement, Baker Hughes stock demonstrated robust performance, with its share price increasing by 5.71% and the company maintaining a market capitalization of approximately $57.12 billion.

On July 8, 2026, investment firm Jefferies confirmed its Buy rating for Baker Hughes (NASDAQ: BKR). Baker Hughes is an energy technology company that provides advanced solutions for energy and industrial customers worldwide. At the time of the rating, the stock was priced at $57.58, reflecting positive sentiment from the investment community.

This positive outlook is supported by a new multi-year agreement between Baker Hughes and Kodiak Gas Services. As highlighted by GlobeNewswire, the partnership focuses on providing power generation solutions. These solutions are intended to support the significant growth of data centers across the United States, a key area of increasing energy demand.

The agreement outlines a substantial commitment from Baker Hughes. The company will initially deliver approximately 1 gigawatt of power generation capacity by the year 2030. The broader framework of the deal provides a path for this to increase to as much as 1.8 gigawatts over the long term.

Following the announcement, Baker Hughes's stock showed strong performance. The share price is currently $57.58, an increase of 5.71% for the day, which represents a gain of $3.11. Throughout the trading session, the stock has fluctuated between a low of $55.16 and a high of $57.67.

The company currently has a market capitalization of approximately $57.12 billion, with a daily trading volume of about 16.36 million shares. Over the past 52 weeks, Baker Hughes's stock has traded in a range between a low of $38.37 and a high of $70.41.