Baker Hughes wins analyst praise as Q4 orders surge 28%
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Baker Hughes (BKR
+3.1%) ranks among today's top gainers on the S&P 500, surging as much as 6% after a surge in orders for energy production gear signals a comeback in the oilpatch following the COVID-19 slowdown.

The Q4 results were well received by analysts, supported by solid free cash flow and orders.
Free cash flow for the quarter was meaningfully higher than expected, Benchmark analysts say, forecasting ~5% upside to the consensus forecast for Q1 2022 EBITDA.
Baker Hughes also scored strong margins across the board, particularly from oilfield services, according to analysts at Stephens, reiterating an Overweight rating on the stock.
Top oilfield services provider Schlumberger also is expected to post a profit when it reports Q4 results tomorrow, and Halliburton will release earnings on January 24.
Haliburton, coming off a recent 52-week high of $29.20, recently was upgraded at J.P. Morgan, citing the company's leadership in scale, flexibility and technology among oil service companies.