Piper Sandler lowered the firm’s price target on Baker Hughes to $50 from $53 and keeps an Overweight rating on the shares. The firm notes that both Baker Hughes (BKR) and Weatherford (WFRD) came under pressure on Wednesday, with shares sliding 6% and 7%, respectively, compared to -2% OIH, which Piper primarily attributes to meaningful earnings cuts as it reduced its 2025 EBITDA for Baker Hughes and Weatherford by 4% and 19%, respectively.
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