斯伦贝谢

Citigroup

Citigroup Raises SLB Buy Rating to $56 from $53, PT Raised to $56.

SLB: Barclays Maintains Overweight, Raises PT to $49 from $47

SLB:JP Morgan raises PT to $54 from $43, maintains Overweight rating

SLB: RBC Capital maintains Outperform, raises PT to $54 from $51.

SLB: Susquehanna raises price target to $58 from $52, maintains Positive rating.

Catalyst<ul> <li>A strong bullish Marubozu White candle on January 20 suggests positive momentum for SLB.</li> <li>Two analysts rate SLB as Buy or Strong Buy, reflecting institutional optimism.</li> <li>Large and Extra-large fund flows show positive net inflow trends, indicating support from major investors.</li> <li>SLB exhibits strong cash reserves and operating cash flow relative to market value.</li></ul>Risk<ul> <li>Small and Medium fund flow buckets show net outflows, suggesting caution among retail and mid-sized investors.</li> <li>Technical indicators remain mixed, with long short signals balanced and no clear directional trend.</li> <li>One analyst maintains a Neutral rating, citing valuation concerns that could limit upside potential.</li></ul>

Key Factors

SLB reported Q4 2025 adjusted EPS of $0.78, beating consensus by 5.4%, with revenue of $9.75 billion also exceeding expectations. Digital division revenue rose 25% sequentially to $825 million, with annual recurring revenue surpassing $1 billion. SLB raised its dividend by 3.5% to $0.295 per share and plans to return over $4 billion to shareholders in 2026 through dividends and buybacks. The company expects 2026 revenue of $36.9 billion to $37.7 billion and predicts increased drilling activity in OPEC countries and the Middle East. SLB's adjusted EBITDA margin reached 23.9% in Q4 2025, up 83 basis points sequentially, driven by operational improvements and margin expansion.

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