SLB: Venezuelan Oil Can Revitalize Oilfield Services Growth (Rating Upgrade)

2026-01-08 14:18:56 ET

The oil sector received positive momentum following the efforts to redevelop Venezuela’s energy infrastructure, sparking renewed interest for oilfield services companies and oil majors. Despite the near-term momentum, I believe reality has begun to set in regarding the endeavor to rebuild the country’s infrastructure and redevelop the oil basin through a multi-year process. With the possibility of SLB N.V. ( SLB ) bolstering operations within the country, I believe the firm may realize an uplift in its oilfield services offerings over the coming years while digital offerings produce durable, recurring revenue. With the renewed outlook for SLB, I am upgrading my rating to a Buy with a price target of $50.74/share at 9.59x eFY26 EV/aEBITDA....

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