Barclays lowered the firm’s price target on SLB to $74 from $77 and keeps an Overweight rating on the shares. posted another strong quarter with “exceptional” free cash flow, though an in-line 2024 guidance “restrained investor reaction,” the analyst tells investors in a research note. The firm says the stock’s current multiple heavily discounts SLB’s multi-year growth stories in Middle East, deepwater and digital, where the company is best positioned.
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