BMO Capital analyst Phillip Jungwirth raised the firm’s price target on Baker Hughes to $45 from $43 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for Oilfield Services and Refining names. The company is still the firm’s top pick in Oilfield Services as the sector should see continued margin expansion, while IET – Industrial and Energy Technology – segment orders should remain strong next year, the analyst tells investors in a research note.
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