Jefferies analyst Lloyd Byrne raised the firm’s price target on Baker Hughes to $46 from $45 and keeps a Buy rating on the shares. The firm expects continued execution from Baker Hughes in Q2 and thinks the company remains on track to achieve the targeted 20% EBITDA margin for the Oilfield Services and Equipment Technology and Industrial & Energy Technology segments by 2025/2026, the analyst tells investors in a research note. Jefferies expects consensus to catch up on margin expectations over the upcoming quarters.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKR:
- Baker Hughes reports U.S. rig count down 2 to 588 rigs
- Baker Hughes Announces Dates for Second-quarter 2024 Earnings Release and Webcast
- Baker Hughes reports U.S. rig count down 4 to 590 rigs
- Baker Hughes awarded integrated solution contract for Petrobras offshore fields
- Baker Hughes Awarded Major Integrated Solutions Contract for Petrobras’ Offshore Fields