Movement Alert｜SLB Ltd Rises 3.14% in Pre-Market Trading, Multiple Banks Raise Price Targets After Strong Q2 Beat

Market Focus07-29

On July 29, SLB Ltd rose 3.14% in pre-market trading, trading at $51.55 per share. The move was driven by a wave of analyst upgrades following the company's better-than-expected second-quarter results.

On the news front, Piper Sandler raised its price target on SLB from $59 to $64, maintaining an Overweight rating. TD Cowen similarly lifted its target from $62 to $64, while Morgan Stanley nudged its target to $55 from $54, also maintaining Overweight. RBC Capital Markets noted that SLB's growth drivers are likely to coalesce in 2027 and beyond, projecting 10% revenue growth in 2027 and 7% in 2028, anchored by a multi-year offshore upcycle, Middle East recovery, and progress in Venezuela.

The upgrades follow SLB's Q2 results released on July 24, which showed revenue of $8.97 billion, up 5% year-over-year and above the consensus estimate of $8.67 billion. Adjusted EPS came in at $0.55, also surpassing the $0.51 analyst expectation. North American revenue surged 36% to $2.24 billion, offsetting a 14% decline in Middle East and Asia revenue impacted by regional conflict.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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North American revenue surged 36% to $2.24 billion, offsetting a 14% decline in Middle East and Asia revenue impacted by regional conflict.</p><p>(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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