Stifel analyst Stephen Gengaro lowered the firm’s price target on Baker Hughes (BKR) to $50 from $52 and keeps a Buy rating on the shares following what the firm calls “modestly better-than-expected” Q1 results underpinned by robust IET margins. Despite macro headwinds from tariffs, Baker Hughes maintained its 2025 IET guidance and the firm believes the company is on track to meet its 2026 IET margin target, but adds that its 2025 OFSE performance will likely be hindered by tariffs and OPEC+ policy so it is trimming estimates and lowering its price target
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