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UPDATE: Societe Generale Reiterates Buy Rating, Lowers PT on Schlumberger Limited

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In a report published Monday, Societe Generale reiterated its Buy rating on Schlumberger Limited (NYSE: SLB), but lowered its price target from $101.00 to $97.00.

Societe Generale noted, “SLB's North American (NAM) and International topline and operating results were standouts in Q3'12 earnings, materially exceeding performance of both HAL and BHI. Throughout his tenure, SLB's prior CEO and current chairman Andrew Gould repeatedly spoke about the need for excelling in execution as key to winning work in challenging market conditions. We believe the strength of SLB's Q3'12 results are a clear manifestation of SLB's sharp focus on delivering first in class execution.”

Schlumberger Limited closed on Friday at $74.00.

Latest Ratings for SLB

DateFirmActionFromTo
Apr 2017HSBCInitiates Coverage OnHold
Dec 2016BernsteinInitiates Coverage OnMarket Perform
Nov 2016JefferiesUpgradesHoldBuy

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Posted-In: Societe GeneraleAnalyst Color Price Target Analyst Ratings

 

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