Analysts Turn More Positive on SLB N.V. (SLB)

SLB N.V. (NYSE:SLB) is one of the 12 Best American Energy Stocks to Buy Now. On January 15, RBC Capital increased its price target on SLB N.V. (NYSE:SLB) from $43 to $51 and maintained its Outperform rating. This update came as the firm previewed Q4 for oil and gas services companies.

The research firm noted that stocks under its coverage have gained about 23% since November, which may make it difficult for earnings and outlooks to meet current market expectations. However, RBC Capital still expects stable earnings trends across the group and believes valuations are mostly attractive.

Earlier, on January 6, Evercore ISI upgraded its rating on SLB N.V. (NYSE:SLB) from In Line to Outperform and raised its price target from $38 to $54. The firm’s analyst, Stephen Richardson, noted that the company’s outlook is “much clearer than it has been in 2+ years” after the company implemented strategic changes.

Evercore ISI pointed to SLB N.V.’s (NYSE:SLB) recent acquisition of ChampionX and its reduced exposure to APS through the Palliser exit. The research firm noted that these moves have “reduced the overall risk profile of the enterprise.”

Headquartered in Houston, Texas, United States, SLB N.V. (NYSE:SLB) is a global oilfield services company. With a presence in over 100 countries, the company offers technology, information solutions, and integrated project management services that optimize reservoir performance.

READ NEXT: 12 Stocks that Will Bounce Back According to Wall Street Analysts and 10 Best US Penny Stocks to Buy.

Disclosure: None. This article is originally published at Insider Monkey.