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 (NYSE: SLB), 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.
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Tags: Jefferies & Company