SLB Upgraded to Outperform, Price Target Raised to $54

Core Viewpoint - SLB N.V. has been upgraded to 'Outperform' by Evercore ISI, with a price target raised from $38 to $54, indicating a clearer outlook for the company than in the past two years [1] Group 1: Company Developments - SLB's acquisition of ChampionX for $8 billion last year has been highlighted as a strategic move that has repositioned the company towards wellhead and production services, thereby reducing its overall risk profile [2] - The exit from APS through the Palliser deal is also noted as a factor contributing to SLB's improved positioning in the market [2] Group 2: Financial Projections - Evercore has raised its EPS estimates for SLB to $3.00 for 2026 and $3.40 for 2027, up from previous estimates of $2.97 and $3.30 respectively [2] Group 3: Market Performance and Opportunities - SLB's stock has surged nearly 18% since the beginning of 2026, driven by investor optimism regarding potential access to Venezuela's oil reserves, which require significant investment and services that SLB can provide [3] - The deteriorating state of Venezuela's oil infrastructure presents a substantial opportunity for SLB to boost crude production and enhance its revenue through a strong pipeline of projects [3]