TD Cowen analyst Marc Bianchi raised the firm’s price target on SLB (SLB) to $66 from $55 and keeps a Buy rating on the shares.The firm said they performed inline with the OIH after a 1Q result that met the company’s March 11th pre-release reflecting war disruptions, despite what appeared to be worsening conditions since the update. Extrapolating commentary, 2Q appears to be on track with prior estimates excluding the war and 2H may have upside with expanding OFS spend.
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