Barclays Maintains Overweight on Schlumberger, Lowers Price Target to $74
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst David Anderson has maintained an Overweight rating on Schlumberger (NYSE:SLB) but reduced the price target from $77 to $74.
January 22, 2024 | 3:28 pm
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NEUTRAL IMPACT
Barclays has maintained an Overweight rating on Schlumberger but lowered the price target from $77 to $74, indicating a positive outlook with a slightly reduced growth expectation.
While the reduction in price target could suggest a more conservative view on the stock's growth potential, the Overweight rating indicates that Barclays still sees Schlumberger as a favorable investment. The impact on the stock price is likely to be neutral in the short term as the positive rating is maintained but the price target is slightly lowered.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100