Baker Hughes price target raised to $55 from $45 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Baker Hughes (BKR) to $55 from $45 and keeps an Overweight rating on the shares after Q2 results beat expectations and FY25 revenue and EBITDA guidance were about in line to slightly above consensus. Traditional energy markets will continue to drive IET equipment demand and installed base growth, while Q2 “marked a substantial inflection in New Energy,” the analyst tells investors in a post-earnings note.