SLB (SLB) PT Raised to $63 at BMO Capital

BMO Capital analyst Phillip Jungwirth raised the price target on SLB (NYSE: SLB) to $63.00 (from $59.00) while maintaining an Outperform rating.

The analyst commented: "Strong 2Q, Better 2H Outlook Supports 2027 Momentum; We’re raising 2026 and 2027 estimates following SLB’s better-than-expected 2Q results and 2H outlook, which supports positive momentum entering next year. While Mideast uncertainties persist, management helped frame base case/downside, with 4Q assumptions appearing reasonable. Higher 2026 global FIDs, Mideast recovery, increased deepwater activity, plus data center acceleration should drive revenue (6.8% BMOe) and EPS (29% BMOe) growth next year. Our target price increases to $63 from $59 on positive estimate revisions, while we remain Outperform, with shares at 16.3x 2027 P/E, versus 18.5x historical median."

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