Schlumberger Eyes 44.9% Upside to $66 on Oversold RSI
SLB•UBS set a $66 price target for Schlumberger, implying 44.9% upside from current levels after a 15.3% drop pushed its RSI into oversold territory. The company also secured a seven-year technology and digital innovation contract with Kuwait Oil Company while analysts revise earnings estimates upward.
1. UBS Price Target and Oversold RSI
UBS set a $66 price target for Schlumberger on technical indicators including a 15.3% decline over four weeks that pushed its Relative Strength Index into oversold territory, signaling potential for a rebound and implying 44.9% upside from current levels.
2. Kuwait Oil Company Contract
Schlumberger secured a seven-year technology and digital innovation services contract with Kuwait Oil Company, reinforcing its long-term presence in Middle Eastern oilfields and supporting national energy goals through advanced subsurface solutions.
3. Analyst Estimate Revisions
Wall Street analysts have raised earnings estimates following the contract award and recent market selloff, even as oil prices retreat on geopolitical peace prospects that contributed to an 18% stock decline over the past month, nearing bear-market territory.
