Baker Hughes price target raised to $40 from $35 at Susquehanna

Susquehanna analyst Charles Minervino raised the firm’s price target on Baker Hughes to $40 from $35 and keeps a Positive rating on the shares. The analyst updated his model following its better than expected Q4 EBITDA and record orders of $8B for the quarter, up 32% sequentially and resulting in a 1.4x book-to-bill.