Oddo BHF reiterates its 'outperform' opinion on SLB, with a price target lowered from $65 to $55, and an adjustment to its EPS sequence (delayed ChampionX integration and slightly less buoyant international momentum in the short term).

Following last Friday's publication of a "solid end to the year", with sales and EPS ahead of expectations, the analyst notes that "the Group remains confident that this supercycle will continue (at least until the end of the decade)".

He sees SLB as 'a veritable toolbox' essential for O&G players, with a solid financial position and a genuine 'cash machine' for its shareholders, which could enable it to finance possible acquisitions in the energy transition.

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