SLB price target raised to $56.10 from $52.30 at Bernstein

Bernstein analyst Guillaume Delaby raised the firm’s price target on SLB (SLB) to $56.10 from $52.30 and keeps an Outperform rating on the shares. The firm is adjusting its model following SLB’s announcement that “1Q26 revenue will be lower than expected.” This may correspond to a Q1 revenue/EBITDA/EPS of $8.7B/$1.871B/53c on Bernstein’s estimates. Somewhat counter-intuitively, the firm takes advantage to increase its price target as it rolls over its DCF in order to reflect a still very supportive environment for oil services stocks.