12:10 PM EDT, 04/24/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target of $38, up $3, reflects an 8.4x multiple of EV to projected '25 EBITDA, in line with BKR's historical average. We lift our '24 EPS view by $0.04 to $2.08 and '25's by $0.02 to $2.53. Q1 EPS of $0.43 vs. $0.28 beat consensus by $0.03. Q1 revenue ($6.4B) rose 12% Y/Y, but fell 5% sequentially due to its Industrial & Energy Technology (IET) segment (-8%). Q1 EBITDA margin (15%) rose 101 bps, but fell 127 bps sequentially due to its IET segment (-140 bps). BKR kept its '24 guidance, expecting revenues to be in range of ~$28B at the midpoint (vs. ~$26B in '23). BKR also expects EBITDA to be in range of $4.3B at the midpoint (vs. ~$3.8B), which we think is fair given it has a healthy number of long-term contracts on hand. In addition, BKR noted it received an order from Saudi Aramco, supplying 17 pipeline compressors for its gas network expansion project, which should enable it to achieve healthy cash flow generation, in our view. We see BKR with FCF in range of ~$3B in '24 (vs. $2B in '23).