UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Schlumberger Ltd. Following 2Q13 Earnings Report

In a report published Monday, Citigroup analyst Robin Shoemaker reiterated a Buy rating on

, 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.