UPDATE: Credit Suisse Reiterates Outperform Rating, Lowers PT on Schlumberger Limited on Cleaning House Before the Holidays

In a report published Wednesday, Credit Suisse analyst James Wicklund reiterated an Outperform rating on

, but lowered the price target from $141.00 to $100.00. In the report, Credit Suisse noted, “SLB's WesternGeco is the largest seismic company in the industry and with the introduction of IsoMetrix offshore and UniQ onshore, are arguably the leaders in technology. The company announced it would take an $800 million charge related to restructuring the segment. Our target price goes to $100 (8.0x 2016 EV/EBITDA) from $141, 17% potential upside from current levels.” Schlumberger Limited closed on Tuesday at $85.22.