Jefferies analyst Lloyd Byrne lowered the firm’s price target on SLB to $68 from $73 and keeps a Buy rating on the shares ahead of its Q3 results. The market sentiment remains cautious with expected deceleration in FY25 growth expectations, and the firm has trimmed its estimates, but the stock’s current valuation is “attractive”, the analyst tells investors in a research note. Jefferies adds that SLB catalysts include ChampionX (CHX) deal closing with better visibility on integration, synergies capture and upside, higher than expected D&I margins, higher-than expected margin support from the cost efficiency initiatives, and APS Canada divestment with proceeds potentially allocated to shareholder returns.