ChampionX price target raised to $40 from $39 at Stifel

Stifel raised the firm’s price target on ChampionX (CHX) to $40 from $39 and keeps a Buy rating on the shares. The management team clearly remains very focused on execution with the SLB (SLB) merger pending, says the analyst, who is updating the firm’s price target based on its SLB price target of $54 and the deal exchange ratio.