On Oct 22, major Wall Street analysts update their ratings for $Schlumberger (SLB.US)$, with price targets ranging from $54 to $65.
Morgan Stanley analyst Daniel Kutz maintains with a buy rating, and adjusts the target price from $60 to $55.
BofA Securities analyst Saurabh Pant maintains with a buy rating, and maintains the target price at $54.
Citi analyst Scott Gruber maintains with a buy rating, and adjusts the target price from $70 to $54.
Barclays analyst David Anderson maintains with a buy rating, and adjusts the target price from $63 to $61.
Evercore analyst James West maintains with a buy rating, and maintains the target price at $62.
Furthermore, according to the comprehensive report, the opinions of $Schlumberger (SLB.US)$'s main analysts recently are as follows:
The estimation of upstream spending growth is witnessing a slowdown. The deceleration of revenue growth, especially in international markets, is noted as a significant challenge to SLB's stock. The anticipated international growth is now adjusted to 2% for the year 2025, a decrease from the previous 4.5%. Despite these challenges, it is expected that SLB's digital business will contribute to growth, even in the face of potentially stagnant upstream spending.
SLB consistently achieved its targets, with a particularly strong quarter in digital. However, attention has shifted towards the anticipated slowing of the spending cycle in 2025, prompting a revision of projections.
Acknowledging the current macroeconomic uncertainties, it is challenging to declare a clean slate post the third quarter. However, the recent adjustments may have alleviated a notably burdensome impediment affecting the stock.
Despite a deceleration in international growth rates, current quarterly outcomes, forthcoming quarter projections, and the long-term forecast up to 2025 reinforce the perspective that the investment risk/reward profile for SLB shares is still attractive. Furthermore, it is anticipated that SLB will continue to achieve substantial growth and generate strong free cash flow in the ensuing years.
SLB is positioned optimally to benefit from the intensifying international and offshore upcycle, which is currently in its early to middle phases, with an enhanced outlook for several years of growth in revenue, EBITDA, and free cash flow. Analysts have observed that the company's operational leverage is starting to reflect positively and is likely to maintain this trend as volumes increase, the cycle progresses, and pricing conditions get better. Despite a revision in the 2026 earnings per share forecast due to a recent asset sale in Canada, a deceleration in short-cycle activity growth, and strong performance in the Digital segment, SLB is still regarded as a top selection.
Here are the latest investment ratings and price targets for $Schlumberger (SLB.US)$ from 9 analysts:
Note:
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