RBC Capital analyst Keith Mackey raised the firm’s price target on SLB to $66 from $59 and keeps an Outperform rating on the shares. The analyst cites his "enhanced clarity" around the company’s market strategy and growth opportunities following its investor conference. Mackey adds that SLB’s decision to increase its dividend by 43% and return 50% of free cash flow to shareholders bodes well for balancing future growth prospects and the need to prudently allocate capital.
Published first on TheFly
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