Baker Hughes price target raised to $49 from $46 at TD Cowen

TD Cowen raised the firm’s price target on Baker Hughes to $49 from $46 and keeps an Outperform rating on the shares. The firm said its IET order outlook may have been viewed as being somewhat aggressive and news that the White House is delaying the CP2 LNG approval further weighed on the stock. After speaking with the company Cowen got more comfortable with the order guidance however the CP2 situation and implications for US LNG may remain an overhang.