SLB price target lowered to $47 from $48 at Barclays

Barclays analyst J. David Anderson lowered the firm’s price target on SLB (SLB) to $47 from $48 and keeps an Overweight rating on the shares. The firm adjusted targets in the energy services group as part of its 2026 outlook. Barclays’ spending report shows the cycle plateau extending a third year, which keeps the firm neutral on the sector. However, it is optimistic the second half of the cycle is “around the corner.”