BUZZ-Street View: SLB outlook soothes investors
Oilfield company SLB SLB.N raised its quarterly dividend and accelerated share repurchases last week as its Q4 profit beat expectations
Median PT of 31 analysts stands at $54
2025 OUTLOOK BETTER THAN EXPECTED
TD Cowen raises PT to $55 from $53, maintains "buy", says Q1 2025 and 2025 full-year outlook were "better than feared"; weakness in first half of 2025 in part driven by Mexico, but SLB said it was too early to forecast any recovery; SLB highlighted overall offshore activity driving the H2 2025 improvement
Citi Research raises PT to $54 from $50, maintains "buy", says growth within digital segment, smaller markets like UAE, Kuwait, new end markets like climate tech, and cost efficiency improvements "could set SLB apart"
Bank of America says SLB is "well positioned to tide over this peaking (international) upstream spending in 2025 & deliver idiosyncratic growth in its digital & new energy businesses"; raises PT to $48 from $45, maintains "buy"
J.P. Morgan raises PT to $50 from $48 maintains "overweight", says favorable growth dynamics in its non-oil business and gas exposure led to $850 mln rev in 2024, with growth expected in 2025
(Reporting by Seher Dareen in Bengaluru)
((Seher.Dareen@thomsonreuters.com;))
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