Piper Sandler raises SLB stock price target on strong results
Piper Sandler raised SLB's (NYSE:SLB) price target to $65, citing strong Q3 2026 results and growth in Core divisions. SLB's 2027 outlook is driven by Latin America and deepwater offshore. Q3 2026 earnings beat estimates with $0.64 EPS and $9.45B revenue. Analysts have mixed views on valuation.
How this was made
The 30-second read
Why it matters
Earnings beat and multiple price‑target upgrades point to a bullish short‑term outlook, though valuation concerns remain.
Market read
The earnings beat and target revisions provide a clear catalyst for SLB and may influence the broader energy services sector.
What to watch
Potential headwinds from flat Middle East activity and broader oil price volatility may limit gains.
Background
SLB (Schlumberger) is a leading oilfield services provider; the article summarizes its Q3 2026 earnings and analyst reactions.
Ticker impact
SLB reported Q3 2026 earnings that beat expectations and analysts adjusted price targets (Piper Sandler to $65, UBS to $70, TD Cowen to $64).
likely upward pressure as the market prices in the higher target and earnings beat
The stock trades around $52, well below the new $65 target, and multiple analysts upgraded their outlook.
Market effects
Oilfield services sector may see broader optimism from SLB's beat and guidance.
Middle East and Latin America activity expectations could lift regional energy stocks.
Strong earnings from a major energy services firm can support global energy equities.
Counterpoint
Some analysts (UBS) lowered their target, indicating valuation concerns that could cap upside.
Key entities
- analystPiper Sandler
Raised SLB price target to $65
- analystUBS
Lowered SLB price target to $70
- analystTD Cowen
Maintained $64 target
