TD Cowen analyst Marc Bianchi lowered the firm’s price target on SLB (SLB) to $53 from $65 and keeps a Buy rating on the shares. The firm again lowered global oilfield services activity assumptions for 2025 and beyond, saying market data and industry commentary “continues to erode.” The group continues to be challenged by downward revisions, particularly for shorter cycle businesses, the analyst tells investors in a research note. That said, TD sees stock valuations as broadly attractive.
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