Movement Alert｜SLB Ltd Rises 3.11% in Regular Trading, Q2 Earnings Beat Expectations as Multiple Banks Raise Price Targets

Market Focus

Aug 06

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.

(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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The rally was driven by continued momentum following the company's Q2 earnings beat and a wave of investment bank target price upgrades.</p><p>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.</p><p>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. 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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.(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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