Schlumberger and Honeywell updated by Credit Suisse

Credit Suisse on Monday gave an update on Schlumberger

and Honeywell International Inc.

. Schlumberger recently bought a 45% stake in Eurasia Drilling Company, an offshore Russian energy company that currently operates 255 rigs. Under the terms of the deal Schlumberger is paying $22 a share. Analyst Jim Wicklund wrote, “EDCL allows SLB to participate, through the increased bottom hole assembly capability acquired with Smith International, in this greater drilling-intensive Russian market, where SLB already has the leading OFS market share. SLB believes the rig will increasingly become the critical platform and general contractor for oilfield services more globally as well.” On Friday Honeywell International reported fourth quarter earnings of $1.43 up 15% year-over-year. Julian Mitchel of Credit Suisse wrote, “Following HON's Q4 earnings, we leave our EPS estimates unchanged, and our TP at $108. We agree with the more bullish tone of the CEO on the overall demand environment… but are somewhat wary of downside risk in PMT, given the company's / investor confidence in its ability to withstand lower oil prices.” Shares of Schlumberger recently traded at $83.62, up 2%. Honeywell has traded at $101.56, down 0.92%