SLB price target lowered to $59 from $60 at Jefferies

Jefferies analyst Lloyd Byrne lowered the firm’s price target on SLB (SLB) to $59 from $60 and keeps a Buy rating on the shares. Ahead of Q1 results, the firm says in a preview that it will be watching for a bottoming in earnings and negative revisions; details on the closing of the planned acquisition of ChampionX (CHX); incremental clarity on D&I margins and the outlook post Palliser results; and self-help initiatives and non-core asset sales.