SLB price target lowered to $51 from $53 at Jefferies

Jefferies analyst Lloyd Byrne lowered the firm’s price target on SLB (SLB) to $51 from $53 and keeps a Buy rating on the shares. The firm revised estimates post the Q2 results. The large oilfield service companies reported that activity in major markets like Saudi Arabia and Mexico remain challenged and continue to overshadow growth from other regions, the analyst tells investors in a research note.