Baker Hughes price target raised to $55 from $44 at Argus

Argus raised the firm’s price target on Baker Hughes (BKR) to $55 from $44 and keeps a Buy rating on the shares. Baker Hughes’ higher earnings primarily reflected growth in the Industrial & Energy Technology segment, where revenue rose 5% and EBITDA rose 18%, which more than offset continuing softness in the Oilfield Services & Equipment division, the analyst tells investors in a research note. Baker Hughes is the least likely of the Big 3 oilfield services firms to be impacted by tariff-related uncertainties and commodity prices, largely due to the heavy backlog in its IET segment, the firm argues.