Barclays lowered the firm’s price target on SLB to $74 from $77 and keeps an Overweight rating on the shares. posted another strong quarter with “exceptional” free cash flow, though an in-line 2024 guidance “restrained investor reaction,” the analyst tells investors in a research note. The firm says the stock’s current multiple heavily discounts SLB’s multi-year growth stories in Middle East, deepwater and digital, where the company is best positioned.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SLB:
- Schlumberger Limited Announces Operational and Financial Results
- Early notable gainers among liquid option names on January 19th
- Schlumberger (NYSE:SLB) Posts Q4 Beat; Boosts Dividend by 10%
- Options Volatility and Implied Earnings Moves Today, January 19, 2024
- SLB plans to increase share repurchases in 2024
