Baker Hughes price target raised to $46 from $40 at Susquehanna

Susquehanna analyst Charles Minervino raised the firm’s price target on Baker Hughes to $46 from $40 and keeps a Positive rating on the shares. The firm adjusted their model following 2Q24 earnings. The reported better than expected EBITDA and EPS, driven by margin strength in both the OFSE and IET segments. Noting an acceleration in cost-out initiatives, the firm anticipates margins will continue to show signs of strength as these initiatives continue.