Baker Hughes price target raised to $70 from $65 at Susquehanna

Susquehanna raised the firm’s price target on Baker Hughes (BKR) to $70 from $65 and keeps a Positive rating on the shares. The firm adjusted targets in oilfield services as part of a Q1 preview. The Iran conflict has been a “significant positive catalyst” for commodity prices and oil and gas stocks, the analyst tells investors in a research note. Susquehanna reduced estimates for oilfield services names with Middle East exposure due to increased expenses, disruptions, and some potential project delays. However, the medium- and long-term effects are now more positive for the sector as supply conditions tighten, adds the firm.