Baker Hughes price target lowered to $52 from $54 at Stifel

Stifel lowered the firm’s price target on Baker Hughes (BKR) to $52 from $54 and keeps a Buy rating on the shares. Ahead of Q1 earnings season, the firm is updating its oilfield services and equipment group earnings models to reflect modestly lower Q1 activity than expected as well as a more cautious near-term outlook, the analyst tells investors in a preview.