Citi analyst Scott Gruber maintains $Schlumberger (SLB.US)$ with a buy rating, and adjusts the target price from $70 to $54.
According to TipRanks data, the analyst has a success rate of 53.6% and a total average return of 11.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Schlumberger (SLB.US)$'s main analysts recently are as follows:
Upstream spending growth is showing signs of slowing momentum. This deceleration in revenue growth outside domestic markets has been a key challenge for SLB's share performance, and current projections estimate international growth to be around 2% in 2025, a decrease from previous forecasts. Nevertheless, it is anticipated that SLB's digital business segment may contribute to growth in the event that upstream spending levels off.
SLB consistently achieved its objectives with a particularly strong quarter driven by digital performance. Attention, however, has shifted towards the anticipated deceleration in the spending cycle come 2025, prompting a reassessment of projections.
Given the current macroeconomic uncertainty, it is challenging to declare that all concerns have been addressed post-Q3. However, the recent adjustments may have alleviated a significant impediment that was affecting the stock's performance.
Note:
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