RBC Capital analyst Keith Mackey maintains $Schlumberger (SLB.US)$ with a buy rating, and maintains the target price at $69.
According to TipRanks data, the analyst has a success rate of 63.3% and a total average return of 22.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Schlumberger (SLB.US)$'s main analysts recently are as follows:
The firm has reduced its forecasts for the second half of 2024, taking into account the expectations of more conservative spending trends due to the recent decrease in oil prices. This adjustment is influenced by a certain level of prudence in upstream spending from some international producers, which is a response to indications of sufficient global supplies.
Market sentiment remains guarded with an anticipation of a slowdown in growth expectations for FY25, prompting a revision of estimates. Yet, the valuation of SLB is considered appealing. Potential catalysts for the company include the completion of the ChampionX transaction with clearer insights into integration and synergy realization, margins exceeding forecasts in D&I, enhanced margin support from cost-efficiency measures, and the divestiture of APS Canada, with the possibility of using the proceeds for shareholder returns.
Note:
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