Baker Hughes price target raised to $50 from $43 at JPMorgan

JPMorgan analyst Arun Jayaram raised the firm’s price target on Baker Hughes (BKR) to $50 from $43 and keeps an Overweight rating on the shares. Heading into 2025, the firm retains a cautious sector stance on oilfield services given the deceleration of capex trends in international and offshore markets and further declines in North America spending. In a more challenging macro environment, companies that can demonstrate the most earnings resiliency are best positioned to deliver alpha, the analyst tells investors in a research note.