On August 6, SLB Ltd rose 3.11% in regular trading, trading at $51.36/share, with turnover of $77.80 million. The rally was driven by continued momentum following the company's Q2 earnings beat and a wave of investment bank target price upgrades.

SLB Ltd reported Q2 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, beating the $0.51 expectation. North America revenue surged 36% year-over-year to $2.24 billion, as offshore oil and gas activity recovery and robust data center demand offset the impact of Middle East geopolitical disruptions. Multiple banks raised their targets, including Piper Sandler to $64, TD Cowen to $64, and Morgan Stanley to $55, while the average analyst target stands at $61.82.

RBC Capital Markets noted that SLB Ltd's growth drivers are expected to coalesce in 2027 and beyond, anchored by a multi-year offshore upcycle and eventual Middle East recovery. The company guided Q3 global revenue growth of 3%-4% sequentially and expects Q4 revenue to grow 5% year-over-year.

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