Citi lowered its price target on SLB from $68 to $63 while maintaining a Buy rating, citing ongoing weakness in the Middle East that is expected to weigh on second-quarter EBITDA growth. The revised target still implies an upside of over 18% from current levels. SLB had guided fiscal 2026 revenue between $36.9 billion and $37.7 billion, assuming oil prices in the high $50s to low $60s, but the recent US-Iran war pushed crude to multi-year highs, potentially benefiting the company. SLB also aims to nearly double annual digital business revenue to as much as $2 billion by 2030, with margins expanding to 38%–42%.
SLB N.V.Citi lowered price target from $68 to $63 due to Middle East weakness weighing on Q2 EBITDA growth.
Schlumberger NVCiti lowered price target from $68 to $63 due to Middle East weakness weighing on Q2 EBITDA growth.