Baker Hughes price target lowered to $42 from $43 at Barclays

Barclays lowered the firm’s price target on Baker Hughes to $42 from $43 and keeps an Overweight rating on the shares. Despite fiscal 2024 EBITDA guidance coming in 2% below consensus at the midpoint and the wide range of IET orders guidance underscoring some degree of uncertainty, particularly around liquified natural gas orders this year, the 5% post-earnings selloff in the shares was overdone, the analyst tells investors in a research note.