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SLB's $4.1 Billion Kelvion Buy Seen Building Broader Data Center Offering, UBS Says

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SLB's (SLB) $4.1 billion proposed acquisition of Kelvion will strengthen its data center push and build a more integrated offering alongside its Liberty Energy (LBRT) partnership, UBS said in a note emailed Tuesday.

Germany-based Kelvion supplies thermal management technology to data center, energy and industrial markets and will sit within SLB's New Energy and Industrial segment, UBS said.

SLB expects the deal to be accretive to earnings per share and cash flow per share within 12 months and reaffirmed its $4 billion 2026 capital returns plan, according to UBS.

UBS maintained its buy rating on the stock with a price target of $66.

Price: $57.98, Change: $-2.13, Percent Change: -3.54%

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