UPDATE: Jefferies Lowers PT on Schlumberger Limited on Solid EPS, Investor Questions

In a report published Monday, Jefferies analyst Brad Handler reiterated a Buy rating on Schlumberger Limited SLB, but slightly lowered the price target from $87.00 to $86.00. In the report, Handler noted, “We have felt that stemming the trend of lowering estimates could give a lift to SLB, which delivered a solid performance and held to a double digit revenue growth rate for '13E. Investors appeared to look for more US land momentum instead. We maintain that core '13E growth drivers — offshore, Russia, Mexico, Middle East and Production Management — are intact and with restoration of commodity confidence we expect shares to respond.” Schlumberger Limited closed on Friday at $69.95.