Market Overview

UPDATE: Barclays Cuts PT to $90 on Schlumberger, Remains Overweight

Share:
Related SLB
It's Going To Be An Interesting Day For Oil Services ETFs
Stephens: Baker Hughes' Near Term Could Be 'Sloppy'
Halliburton Eyes New Deals After Ending Baker Hughes Bid (Investor's Business Daily)

Barclays reiterated its Overweight rating on Schlumberger (NYSE: SLB) while reducing its price target from $92 to $90.

Barclays commented, "Schlumberger offered an operational update to 4Q this morning, guiding down earnings expectations by $0.05-$0.07 per share. The lower guidance was driven by stronger-than-usual seasonality in the North Sea and Western Siberia, contractual delays in North Africa and the accelerating drop-off in NAM activity. The market's initial reaction today (-6% versus OSX -1.5% intraday) seems overdone to us; we don't see a change to our thesis and would use the weakness to add to positions."

Schlumberger closed at $68.91 on Friday.

Latest Ratings for SLB

DateFirmActionFromTo
Apr 2016Societe GeneraleDowngradesBuyHold
Apr 2016BarclaysMaintainsOverweight
Apr 2016Morgan StanleyMaintainsOverweight

View More Analyst Ratings for SLB
View the Latest Analyst Ratings

Posted-In: BarclaysAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (SLB)

View Comments and Join the Discussion!