BMO Capital raised the firm’s price target on Baker Hughes (BKR) to $53 from $46 and keeps an Outperform rating on the shares. The company’s acquisition of Chart expands and complements its Industrial Energy & Technology segment, which enhances its long-term growth, margins, and earnings durability, the analyst tells investors in a research note. Baker Hughes’ leverage increases from a low level given cash proceeds but is manageable, BMO added.
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