Wells Fargo lowered the firm’s price target on SLB to $74 from $76 on Friday and keeps an Overweight rating on the shares. International and offshore markets expansion and flat to up 2024 NAM recovery underpin the firm’s continued favorable outlook for SLB. Further and faster pre-tax margin expansion could support additional margin and price target upside, Wells says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SLB:
- SLB (NYSE:SLB) Slides after Mixed Q3 Results
- SLB sees pretax margins in Q4 at same level as Q3
- SLB sees ending year by increasing revenue more than 15%, EBITDA in mid-20s
- SLB sees Q4 sequential revenue growth in high single digits, consensus $8.33B
- Options Volatility and Implied Earnings Moves Today, October 20, 2023