Jefferies reiterates its 'buy' recommendation on SLB (formerly Schlumberger) while raising its price target from $71 to $73, adjusting its model to take into account management's second-quarter targets and the CHX acquisition.

"Many questions have been raised regarding SLB's recent acquisitions, Saudi announcements and first-quarter results", notes the broker in the summary of its note on the oilfield services group.

Although the markets are still assessing the impact of these developments, we believe that SLB's focus on strengthening its core business and growing returns to shareholders is a constructive element', it continues.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.