Baker Hughes price target raised to $80 from $70 at Susquehanna

Susquehanna raised the firm’s price target on Baker Hughes (BKR) to $80 from $70 and keeps a Positive rating on the shares. The firm updated its estimates following Q1 results and noted the company maintained guidance, though it noted that revenue and EBITDA were tracking slightly below the midpoint range. The highlight of the quarter came from IET orders with a record $4.9bn booked, demonstrating the robust demand across Power Systems and gas infrastructure.