Benchmark analyst Kurt Hallead initiated coverage of Baker Hughes with a Buy rating and $36 price target. Baker Hughes is in a strong position to benefit from increased E&P spending on global oil and gas and LNG projects in the intermediate term and to be a leader in the energy transition longer term, Hallead tells investors in a research note. Baker Hughes is in a unique position to capitalize on the energy transition given its strong technology portfolio in geothermal, carbon capture, hydrogen and emissions management.
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Published first on TheFly
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