BofA analyst Saurabh Pant raised the firm’s price target on Baker Hughes (BKR) to $52 from $44 and keeps a Buy rating on the shares. The Industrial & Energy Technologies business is now 55% of Baker’s pro-forma revenue and non-oil and gas end-markets are now about 30% of total IET revenue, notes the analyst, who sees the acquisition of Chart Industries (GTLS) as accelerating the company’s push to grow and further diversify in IET. The analyst reiterates Baker Hughes as the firm’s top oil field services pick.
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