Stifel raised the firm’s price target on Baker Hughes (BKR) to $52 from $50 and keeps a Buy rating on the shares. After the company delivered a “strong” Q3 beat and better-than-expected Q4 guidance, the firm says it is confident management and the board will “make decisions that benefit shareholders.” Shares slid 3% on Friday as the firm believes some investors were expecting a potential announcement after the company previously said it was “performing a comprehensive evaluation,” but the firm believes this is an ongoing process, the analyst tells investors.
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