Melius Research Initiates Coverage of Schlumberger Limited (SLB) with a Buy Rating

Schlumberger Limited (NYSE:SLB) is one of the best cheap strong buy stocks to buy now. Melius Research initiated coverage of Schlumberger Limited (NYSE:SLB) with a Buy rating on August 20, setting a $82 price target.

Schlumberger (SLB) Dives 10.69% as Earnings Disappoint

An aerial view of a well site, depicting the scale of oil and gas operations.

The firm told investors in a research note that “Energy & Power” has metamorphosed into an AI category with the introduction, acceleration, and adoption of AI, and that the market is in the early stages of a “Power Revolution.”

It added that the effects of this power revolution are only beginning, shifting leadership toward a whole new group of winners. The firm is thus establishing coverage on several prominent E&Ps, the Supermajors, the largest independent power producers, and the largest oil services companies.

Schlumberger Limited (NYSE:SLB) provides energy technology and operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems.

While we acknowledge the potential of SLB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SLB and that has 100x upside potential, check out our report about this cheapest AI stock.

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