SLB price target lowered to $58 from $60 at BMO Capital

BMO Capital lowered the firm’s price target on SLB to $58 from $60 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results for Oilfield Services – OFS- and Refining names. The firm is positive on the company’s higher EBITDA and free cash flow margin profile driven by its technology and international leadership, while its shares trade well below their historical valuation multiples and in line to below its historical premium relative to peers, the analyst tells investors in a research note.