Jefferies raised the firm’s price target on SLB (SLB) to $66 from $65 and keeps a Buy rating on the shares following the Q2 report. The company sees a broad-based recovery into 2027, the analyst tells investors in a research note. The firm says the key debate remains the pace of Middle East normalization, but adds that SLB’s tone was “incrementally constructive amid growing confidence in a multi-year offshore cycle.”

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