SLB price target raised to $65 from $60 at Susquehanna

Susquehanna analyst Charles Minervino raised the firm’s price target on SLB (SLB) to $65 from $60 and keeps a Positive rating on the shares. The firm updated its estimates following Q1 results which came inline with expectations that were lowered during the quarter due to the Iran conflict’s impact on the Middle East operations. While this ongoing conflict continues to cause short-term headwinds for the company, they expect the conflict ultimately to lead to higher medium-to-long term commodity prices and more North America and international activity.