SLB Poised For Long-Term Growth Amidst Middle Eastern Demand, Analyst Predicts
Portfolio Pulse from Nabaparna Bhattacharya
Susquehanna analyst Charles P. Minervino has reiterated a Positive rating on Schlumberger N.V. (NYSE:SLB), raising the price target to $68 from $65. The analyst is bullish about long-term demand from the Middle East, which he sees as a compelling opportunity for SLB. Despite a slight miss on Q2 FY23 revenue, SLB reported a 19.6% YoY increase to $8.10 billion and a 44% YoY increase in adjusted EPS to $0.72. Minervino expects SLB to play a key role in global energy trends and sees a long-term runway for earnings growth.
July 24, 2023 | 6:15 pm
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POSITIVE IMPACT
Schlumberger's stock price may see a positive impact due to the raised price target and positive rating from Susquehanna analyst. The company's long-term growth prospects in the Middle East also add to its appeal.
The positive rating and raised price target from a reputable analyst can boost investor confidence and potentially drive the stock price up. The bullish outlook on long-term demand from the Middle East also signals potential growth for the company, which can further attract investors.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100