SLB price target lowered to $53 from $54 at Jefferies

Jefferies lowered the firm’s price target on SLB (SLB) to $53 from $54 and keeps a Buy rating on the shares. The firm cites the company’s operational update for Q2 highlighting macro uncertainty including OPEC+ announcements, tariffs negotiations and geopolitical escalations resulting in continued cautious approach by customers to activity, the analyst tells investors in a research note. Jefferies adds that it targets Q2 EBITDA of $2.02B, flat from Q1 and down 3% from its prior estimate.