RBC Capital analyst Keith Mackey raised the firm’s price target on Baker Hughes (BKR) to $49 from $43 and keeps an Outperform rating on the shares after hosting investor talks with its CFO, which focused on the company’s ability to unlock value through self-help opportunities, positioning for growth in multiple markets, and long term potential for further margin improvement. The firm is increasing its EBITDA valuation multiple to 10-times from 9-times on improved visibility to longer-term growth trends, particularly in Gas Technology, the analyst tells investors in a research note.
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