Analyst Lloyd Byrne of Jefferies maintained a Buy rating on Baker Hughes Company (BKR – Research Report), retaining the price target of $55.00.
Lloyd Byrne has given his Buy rating due to a combination of factors including Baker Hughes Company’s strong financial performance and strategic positioning. The company’s first quarter results showed a notable EBITDA margin improvement, surpassing expectations and indicating efficient operational management. Additionally, the Industrial & Energy Technology (IET) segment outperformed, contributing significantly to the overall positive financial results.
Furthermore, the company’s guidance for the second quarter and the year 2025 remains robust, with expectations of revenue and EBITDA growth. Despite some anticipated challenges in the Oilfield Services & Equipment (OFSE) segment, the company’s strategic initiatives and focus on mitigating tariff impacts are expected to sustain its financial health. These factors, combined with the company’s proactive approach to managing external economic pressures, underpin the Buy rating recommendation.
Byrne covers the Energy sector, focusing on stocks such as Baker Hughes Company, Suncor Energy, and Civitas Resources. According to TipRanks, Byrne has an average return of 16.2% and a 48.01% success rate on recommended stocks.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $50.00 price target.