Key Highlights:
- ADNOC Drilling's strategic acquisition of SLB's land drilling rigs expands its international presence.
- Analysts project a significant upside for Schlumberger Ltd, with a notable average price target.
- Schlumberger Ltd receives an "Outperform" rating, reflecting strong market confidence.
ADNOC Drilling has announced its strategic initiative to acquire a 70% stake in SLB's (SLB, Financial) land drilling rigs business in Kuwait and Oman for up to $112 million. This acquisition, encompassing eight active rigs, represents a key step in ADNOC's expansion strategy beyond the UAE, with plans to enhance the venture's scale within the current year.
Wall Street Analysts Forecast
According to the latest financial insights from 27 analysts, Schlumberger Ltd (SLB, Financial) holds an average price target of $47.50. The analysts' predictions range from a high of $63.00 to a low of $38.00, implying a potential upside of 41.97% from the current trading price of $33.46. Investors seeking more in-depth forecasting data can visit the Schlumberger Ltd (SLB) Forecast page.
The consensus from 30 brokerage firms awards Schlumberger Ltd (SLB, Financial) an average brokerage recommendation of 1.9, categorizing it as an "Outperform." With the rating spectrum spanning from 1 (Strong Buy) to 5 (Sell), this positive score underscores the stock's favorable outlook.
Further analysis by GuruFocus estimates the GF Value for Schlumberger Ltd (SLB, Financial) to be $58.22 within the next year. This estimation presents a projected upside of 74.02% over the current price of $33.455. The GF Value represents GuruFocus' calculation of the fair value, considering historical trading multiples, past business growth, and future performance projections. For detailed summary data, access the Schlumberger Ltd (SLB) Summary page.
