Analyst Marc Bianchi of TD Cowen maintained a Buy rating on Schlumberger (SLB – Research Report), with a price target of $51.00.
Marc Bianchi has given his Buy rating due to a combination of factors influencing Schlumberger’s business outlook. Despite a recent underperformance relative to the OIH index following a first-quarter EBITDA miss, Schlumberger’s guidance suggests a less severe downward revision compared to its peers. This is attributed to the company’s unique strengths, such as its digital and data center operations, which make it less vulnerable to fluctuations in upstream spending.
Looking ahead, Schlumberger anticipates stable revenue in the second quarter and modest growth in the latter half of the year, driven by seasonal improvements, new deepwater projects, and expansion in its digital and data center segments. The company’s strategic initiatives and cost management have led to improved EBITDA margins, which are expected to continue progressing. These factors, along with a slight increase in price target from $48 to $51, underscore the Buy rating, reflecting confidence in Schlumberger’s ability to navigate macroeconomic uncertainties and deliver value.
According to TipRanks, Bianchi is an analyst with an average return of -4.3% and a 37.20% success rate. Bianchi covers the Energy sector, focusing on stocks such as Baker Hughes Company, TechnipFMC, and Tenaris SA.
In another report released on April 17, RBC Capital also maintained a Buy rating on the stock with a $48.00 price target.