Jefferies raised the firm’s price target on Baker Hughes (BKR) to $58 from $54 and keeps a Buy rating on the shares. The firm says the company’s acquisition of Chart Industries (GTLS) further strengthens its long-term positioning. The price paid is also reasonable and the targeted synergies are achievable, the analyst tells investors in a research note. Jefferies updated its Baker Hughes model to reflect the combined company.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKR:
- Baker Hughes price target raised to $53 from $46 at BMO Capital
- Baker Hughes’ Strategic Acquisition and Financial Prospects Drive Buy Rating
- Baker Hughes price target raised to $46 from $43 at UBS
- Chart Industries downgraded to Neutral from Buy at Seaport Research
- Baker Hughes downgraded to Neutral from Buy at Seaport Research