Baker Hughes price target raised to $48 from $45 at Stifel

Stifel raised the firm’s price target on Baker Hughes (BKR) to $48 from $45 and keeps a Buy rating on the shares. Shares have surged 29.5% year-to-date, which the firm attributes to consistent execution toward margin targets and the market “increasingly appreciating” the visibility and profitability of its Gas Tech Services business, the analyst tells investors. The firm views Baker Hughes as “a franchise name,” the analyst added.