SocGen Cuts SLB N.V. (SLB) Price Target But Asserts 'Outperform' Rating

SLB N.V. (NYSE:SLB) is one of the most profitable energy stocks to buy right now. On October 10, SocGen analyst Guillaume Delaby reiterated an ‘Outperform’ rating on the stock but cut the price target to $47.60 from $63.

The price target cut comes amid concerns that the company will pay a price for the slow transition towards New Energies as a medium-term negative. Additionally, the analyst has raised concerns about upcoming results that could impact the stock’s sentiment and trigger a lower valuation.

Consequently, SocGen has reduced its long-term growth rate assumption to 2% from 3.5% owing to adjusted expectations for the ChampionX consolidation. The acquired ChampionX is to be included for just 5 months in 2025, rather than 9 months as in previous models.

SLB N.V. (NYSE:SLB) is a global technology company that provides technology and services for the energy industry, focusing on both the production and recovery of oil and gas, and the transition to new energy sources. Its work includes developing and deploying technologies to make energy production more efficient and sustainable, and helping customers reduce emissions while meeting global energy demands.

While we acknowledge the potential of SLB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 13 Best Performing NASDAQ Stocks According to Hedge Funds and 10 High-Growth Semiconductor Stocks That Are Profitable in 2025.

Disclosure: None. This article is originally published at Insider Monkey.