SLB price target lowered to $62 from $65 at Citi

Citi analyst Scott Gruber lowered the firm’s price target on SLB (SLB) to $62 from $65 and keeps a Buy rating on the shares. The analyst updated the company’s model for the transaction ChampionX and established a 2025 adjusted EBITDA forecast of $11.05B and earnings per share of $3.94. The firm thinks SLB can continue to outperform Halliburton (HAL) into earnings given concerns toward a weaker second half of 2024 for Halliburton and continued strength abroad for the industry.