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Investing.com - Melius Research initiated coverage on SLB (NYSE:SLB) stock with a Buy rating and a price target of $82.00 on Wednesday. The target represents significant upside potential from the current price of $33.34, which is trading near its 52-week low. According to InvestingPro data, analysts maintain a strong bullish consensus on the stock.
The research firm cited SLB’s successful transition from a traditional oilfield services company to a global energy technology firm focused on innovation, digitalization, and decarbonization.
Melius highlighted that SLB is the largest oilfield services company worldwide, with operations in more than 120 countries and a localized workforce that gives the company a strong presence in each market it serves.
The firm noted SLB’s technology leadership, particularly in digitalization and artificial intelligence, which Melius expects will soon become evident in the company’s profit margins. Trading at a P/E ratio of 11.27 and generating annual revenue of $35.48 billion, SLB shows strong fundamental metrics. For deeper insights into SLB’s valuation and growth potential, check out the comprehensive analysis available on InvestingPro.
Melius also pointed to SLB’s New Energies division as a growth driver, with the unit advancing initiatives in carbon capture, utilization and storage (CCUS), geothermal energy, hydrogen, and lithium extraction.
In other recent news, SLB has secured a contract to develop carbon storage wells in the North Sea for the Northern Endurance Partnership. This project will involve the construction of six wells using SLB’s Sequestri carbon storage solutions. In financial updates, RBC Capital has lowered its price target for SLB to $46, citing macroeconomic uncertainties like tariff concerns and OPEC+ production increases. Meanwhile, UBS maintains its Buy rating and a $45 price target following SLB’s second-quarter 2025 results, although they note concerns about the company’s outlook for the latter half of the year.
Piper Sandler has kept a Neutral rating with a $42 price target, as investors expressed disappointment with SLB’s 2025 outlook. On a more positive note, Bernstein has reiterated an Outperform rating with a $63 price target, suggesting a stabilizing outlook for the company. These developments reflect a mixed but evolving landscape for SLB amid various analyst perspectives.
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