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Morgan Stanley named Baker Hughes as its top pick in the oilfield services and equipment (OFSE) sector, raising its price target for the stock by 7% to $45 in a note Thursday. The firm cited several key factors that make BKR a standout, including its strong exposure to the liquefied natural gas (LNG) market and a diversified portfolio that offers both growth potential and stability. “BKR as our Top Pick as its portfolio is relatively more defensive and stable vs. its OFSE peer group, but still includes attractive growth prospects, as well as earnings/FCF durability and longevity,” wrote the bank.
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