SLB price target lowered to $45 from $50 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on SLB (SLB) to $45 from $50 and keeps an Overweight rating on the shares. The company’s Q1 results came in modestly light, while guidance and commentary were slightly below expectations, notes the analyst, who is lowering the firm’s FY25-FY27 EBITDA view by about 5% and price target by 10% in light of the recently more challenging macro backdrop.