SLB shares surge 5.62% intraday after Citigroup recommends buying on weakness amid Middle East conflict-driven recovery potential.

Schlumberger (SLB) surged 5.62% in intraday trading following a Citi recommendation to buy the stock on weakness and Melius Research’s analysis positioning it as a leader in Middle East operations. Citi advised investors to consider purchasing SLB during market dips, while Melius highlighted the company’s premium status in the region and a significant contract win with CNOOC for subsea systems in the South China Sea. These developments, alongside a raised price target by Bernstein SocGen to $56.10, underscored SLB’s strategic positioning amid regional recovery prospects and infrastructure repair needs, despite earlier Q1 earnings guidance cuts due to Middle East disruptions.