((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
October 1 – ** JP Morgan lowered the forecast price of American oil services company SLB SLB.N to $60, from $64 previously
**The new price target represents a 43% upside from the stock’s last close
** Brokerage says it is reducing its H2FY24 forecast to factor in weaker spending trends amid falling oil prices
**Lower oil prices are prompting a number of international producers to be cautious about upstream spending, given signs of ample global supply, while trends in market activity North American remain moderate
**28 of 30 brokers rate the stock “buy” or higher, 2 “hold”; their median forecast is $64.46 – LSEG
**As of last close, the stock is down 19.39% year-to-date
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