Analyst Arun Jayaram of J.P. Morgan maintained a Buy rating on Baker Hughes Company, with a price target of $53.00.
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Arun Jayaram has given his Buy rating due to a combination of factors that highlight Baker Hughes Company’s strategic positioning and growth potential. The company is expected to achieve significant operational and financial milestones, including a substantial increase in IET orders and an improved EBITDA margin by 2028. This growth is supported by a diversified order stream across LNG, power generation, industrial, and new energy sectors, which aligns with the company’s strategic goals.
Furthermore, the strategic acquisition of Chart Industries is anticipated to enhance Baker Hughes’ capabilities, particularly in high-growth markets, and unlock significant synergies. The integration of Chart is expected to broaden Baker Hughes’ portfolio, making it more industrial-focused and less cyclical, thereby supporting consistent long-term performance. Additionally, the company’s proactive approach to maximizing shareholder returns through capital allocation and business optimization further strengthens the investment thesis.
In another report released on October 28, Citi also maintained a Buy rating on the stock with a $55.00 price target.