UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Schlumberger Limited

In a report published Monday, Jefferies & Company reiterated its Buy rating on Schlumberger Limited

, and slightly raised its price target from $86.00 to $87.00. Jefferies noted, “Our confidence is growing that SLB can deliver peer-leading revenue growth, while retaining strong FCF and sustaining peer-leading margins. We interpret strong capex in '13E as a positive. SLB remains the easiest diversified service name to own, and only in part because of lower exposure to the softening NAM market. Tweak PT up $1 to $87 as we offset softer near term U.S. with stronger longer term nonNAM. Reiterate Buy.” Schlumberger Limited closed on Friday at $74.00.