Baker Hughes Co (NASDAQ:BKR) stock fell 3.69% (As on September 26, 11:30:50 AM UTC-4, Source: Google Finance) after Wells Fargo upgraded the company to Overweight from Equal Weight with a price target of $42, up from $40, as part of a broader research note on Energy Services. The firm is raising the multiple for the Industrial & Energy Technology segment, IET, reflecting better prospects and valuation opportunities for this diversified segment helping in offsetting the lower multiple for the Oilfield Services & Equipment segment, OFSE, which reflects its “muted views” for this business that is consistent with its peers, the analyst tells investors in a research note.

Further, Brokerage Wells Fargo says upgrade reflects BKR’s diversified business model. The firm says it raises the multiple for the industrial segment, IET (Industrial & Energy Technology), “reflecting better prospects and valuation opportunities for this diversified segment, offsetting the lower multiple for the OFS (Oilfield Services & Equipment) segment”. The new price target represents a 15.6% upside to the stock’s last close

Meanwhile, the company has recently announced the launch of CarbonEdge, powered by Cordant, the first end-to-end, risk-based digital solution for CCUS operations that provides comprehensive support for regulatory reporting and operational risk management. With an intuitive, integrated dashboard, CarbonEdge delivers precise, real-time data and alerts on carbon dioxide (CO₂) flows across CCUS infrastructure, from carbon capture and compression to pipeline transportation, as well as subsurface storage. This connectivity across the entire CCUS project lifecycle enables customers to identify and manage risk, improve decision-making, enhance operational efficiency, and simplify regulatory reporting. The first fully integrated digital offering within Baker Hughes’ Climate Technology Solutions portfolio, CarbonEdge joins Baker Hughes’ digital solutions such as JewelSuite, Leucipa and Cordant, which span the energy and industrial value chains to increase efficiency, enhance operational predictability, and help ensure lower emissions.

On the other hand, the company has announced Tuesday several changes to its leadership team, effective by Oct. 1. These changes are designed to continue delivering Baker Hughes’ successful strategy and executing for long-term growth, meeting customer needs in the rapidly evolving energy and industrial segments. Amerino Gatti is appointed executive vice president (EVP) of Oilfield Services & Equipment (OFSE). Maria Claudia Borras, EVP of OFSE since 2022, is appointed chief growth & experience officer (CGXO). In addition, Muzzamil Khider Ahmed, SVP and chief people officer since 2023, has been promoted to the executive leadership team as chief people & culture officer.