SLB shares surge 5.36% after hours on Citigroup's buy recommendation amid market weakness.

SLB surged 5.36% in after-hours trading following Citigroup's buy recommendation, which advised investors to purchase shares during periods of weakness. The stock's rise coincided with heightened market interest in oil and gas sector opportunities amid the Middle East conflict, as infrastructure damage from Iranian attacks on Persian Gulf facilities—including disruptions at Shell and ExxonMobil operations—spurred expectations of increased demand for SLB's repair and maintenance services. While the company recently lowered its Q1 earnings guidance, the long-term repair demand and SLB's undervalued valuation (P/E under 20) reinforced investor optimism. Additionally, institutional buying activity, such as Wealth Alliance Advisory Group’s stake increase, further supported the rally. The move aligns with analysts’ bullish outlook, including Bernstein and Goldman Sachs, who raised price targets citing structural growth in oil services despite short-term geopolitical risks.