In a report published Monday, Jefferies analyst Brad Handler reiterated a Buy rating on Schlumberger SLB, and raised the price target from $86.00 to $97.00.
In the report, Jefferies noted, “SLB impresses with its consistency. We raise our PT to $97 from $86, effectively raising our target multiple (although our PT remains DCF-based) to reflect confidence in the medium term growth outlook. We accept that management is signaling a somewhat more aggressive approach to returning cash and expect share buybacks to be a more relevant part of the conversation over the next two years. Maintain Buy.”
Schlumberger closed on Friday at $82.74.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.