Baker Hughes price target raised to $55 from $43 at Argus

Argus raised the firm’s price target on Baker Hughes (BKR) to $55 from $43 and keeps a Buy rating on the shares. Baker Hughes’ higher earnings primarily reflected earnings growth in both of the company’s two business segments, along with positive price action and benefits from continuing cost-reduction programs, the analyst tells investors in a research note. The firm is assuming continued strong drilling activity in International markets, partly offset by flat growth in North America markets.