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On Thursday, Jefferies financial firm adjusted its outlook on SLB (NYSE: SLB), reducing the price target to $59.00 from the previous $60.00 while reaffirming a Buy rating for the company’s shares. Currently trading at $42.42, SLB maintains a P/E ratio of 13.5x and has demonstrated solid revenue growth of 9.52% over the last twelve months. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value calculations, with analyst targets ranging from $44 to $64.
The analyst at Jefferies provided insight into the factors that investors are closely monitoring with regard to SLB. These include a potential bottoming out in earnings or a halt to negative revisions, the closure of the CHX deal, greater clarity on Digital & Integration (D&I) margins and outlook following the Palliser acquisition results, and the impact of self-help initiatives and sales of non-core assets.
Jefferies’ valuation and discounted cash flow (DCF) analysis underpins their view that the risk/reward profile for SLB is currently attractive. The firm has delved into various aspects of SLB’s business, including the forecast for the first quarter of 2025, updating their assessment of these key elements.
SLB’s stock price target reflects Jefferies’ expectations based on the company’s financial health and market position. Despite the slight decrease in the price target, the Buy rating indicates that Jefferies continues to see a positive outlook for the company’s stock.
The report from Jefferies serves as a barometer for SLB’s financial trajectory and potential investor sentiment. It is an indicator of how financial analysts view the company’s future performance and market value.
In other recent news, Schlumberger Limited (NYSE:SLB) has been in the spotlight with several key developments. RBC Capital Markets has adjusted its financial outlook on SLB, reducing its price target to $55 while retaining an Outperform rating, citing the closing of the CHX acquisition as a significant event. SLB has also been undergoing a business restructuring, including workforce reductions and the establishment of a new performance function, as part of a cost-saving initiative. In collaboration with Aker Solutions, SLB Capturi has secured a contract for a carbon capture project in Oslo, Norway, which is expected to be completed by 2029.
Stifel analysts have maintained a Buy rating on SLB with a $59 price target, highlighting the company’s strong fourth-quarter performance and optimistic 2025 outlook. Meanwhile, TD Cowen has increased its price target for SLB to $55, maintaining a Buy rating, following better-than-expected guidance for the first quarter and 2025. The company has been focusing on shareholder returns, aiming to return at least $4.0 billion in 2025. These developments reflect SLB’s strategic efforts in restructuring, acquisitions, and enhancing shareholder value.
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