SLB: Jefferies cuts target price

(CercleFinance.com) - Jefferies reiterates its 'buy' recommendation on SLB (formerly Schlumberger) shares, while reducing its target price from $64 to $61, in its report on large-cap US oilfield services companies.


The broker says that these companies start 2025 in an environment of slowing international business growth and less activity in North America, with the emphasis on maintaining margins.

While the completion of the CHX acquisition and the slowdown in international growth continue to weigh on SLB's share price, Jefferies believes that the group should increase margins slightly in 2025, and still finds the stock's valuation attractive.


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