Schlumberger Positioned For Long-Term International Growth As Rig Counts Rise, Says Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Susquehanna analyst Charles P. Minervino reiterated a positive rating on Schlumberger N.V. (NYSE:SLB), raising the price target to $72 from $68. The analyst has slightly tempered his 2024 revenue growth expectation to 15% from 17%, but raised the EBITDA margin estimates to 25.1% from 24.2%. Minervino is bullish on the company's Digital business plan to double its size from $1.5 billion in 2021 to $3 billion by 2025. The analyst also highlighted SLB's partnership with TDA Research to accelerate the development of carbon capture technology.
September 07, 2023 | 6:14 pm
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Schlumberger N.V. (NYSE:SLB) has received a positive rating from Susquehanna analyst Charles P. Minervino, who raised the price target to $72 from $68. The analyst is bullish on the company's digital business plan and its partnership with TDA Research for carbon capture technology.
The positive rating and raised price target by the Susquehanna analyst indicates a bullish outlook for Schlumberger N.V. The company's digital business plan and its partnership with TDA Research for carbon capture technology are seen as strong growth drivers, which could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100