BMO Capital lowered the firm’s price target on SLB to $64 from $66 and keeps an Outperform rating on the shares after its Q1 results. The stock is no longer pricing in upside to consensus estimates, with valuation near cycle lows, and the company’s stronger international growth should offset incremental North America weakness, the analyst tells investors in a research note. BMO adds that it remains positive on SLB shares given its leadership across growing international and deepwater markets.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SLB:
- SLB Earnings: SLB Reports Better-than-Expected Revenues in Q1
- Unusually active option classes on open April 19th
- Schlumberger Limited Unveils Operational and Financial Insights
- Options Volatility and Implied Earnings Moves Today, April 19, 2024
- SLB targeting to return $7B to shareholders over 2024-2025