In a report published Monday, Citigroup analyst Robin Shoemaker reiterated a Buy rating on Schlumberger Ltd. SLB, and raised the price target from $85.00 to $95.00.
In the report, Citigroup noted, “What is most impressive about the earnings report for 2Q13 is the sequential and year-on-year incremental margins. For Schlumberger as a whole a 6% sequential increase in revenues supported a 16% increase in operating income. This was made possible by strong incremental margins across all regions (including North America) and across all product lines. The incremental margins were 51% on a sequential basis and 28% year-on-year.”
Schlumberger Ltd. closed on Friday at $82.74.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in