Evercore ISI raised the firm’s price target on Baker Hughes (BKR) to $54 from $52 and keeps an Outperform rating on the shares. A strong end to 2024, with further confirmation of strong order intake and awards in Gas Tech with “more ratable growth in the ever important services portfolio” leads the firm to argue that “cyclical and secular trends look to be converging.” With backlog growth and services expansion, so is visibility and repeatability, the analyst tells investors in a post-earnings note.
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