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UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Schlumberger Limited

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In a report published Monday, Deutsche Bank reiterated its Buy rating on Schlumberger Limited (NYSE: SLB), but lowered its price target from $97.00 to $95.00.

Deutsche Bank noted, “SLB's Q3 underscored its industry leadership and justified its premium valuation. The international margin gap vs. peers expanded and SLB now also boasts the highest North American (NA) margins as well, making it the through cycle margin leader. SLB also hosted a CEO Roundtable in NY on Friday in which management pointed to continued improvement (and perhaps acceleration) internationally. Margins seem set to grow nicely from here as both pricing and mix improve. SLB also highlighted its differentiated (and profitable) position in Iraq and the extremely strong outlook for seismic. This strong global leadership position supports our continued BUY rating.”

Schlumberger Limited closed on Friday at $74.00.

Latest Ratings for SLB

DateFirmActionFromTo
Dec 2016BernsteinInitiates Coverage OnMarket Perform
Nov 2016JefferiesUpgradesHoldBuy
Oct 2016CitigroupMaintainsBuy

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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