JPMorgan notes that despite reducing the firm’s Q4 OFSE revenue estimate for Baker Hughes (BKR) by 2% owing to softness in Mexico, Saudi Arabia, and U.S. Land, the firm anticipates “another solid print driven by upbeat trends in IET” and points out that the firm’s updated Q4 EBITDA estimate of $1.26B is in-line with the consensus forecast. The firm, which also points out that its 2025 estimates remain ahead of consensus, has an Overweight rating and $50 price target on Baker Hughes shares.
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