UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Schlumberger Limited Following Impressive Analyst Meeting

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

, and raised the price target from $120.00 to $137.00. In the report, Credit Suisse noted, “Schlumberger held a very impressive analyst meeting in NYC, following the trend of a 3-year update and outlook meeting by the large cap service industry. The humility of the presentation, with transformative efforts across the board, by a company considered to be the best in the industry on many metrics, including management, implies a very different and open approach by the company. We are increasing our target price to $137 from $120 and increasing our EPS estimates.” Schlumberger Limited closed on Thursday at $116.12.