Simmons Cuts Price Target on Schlumberger Ltd. (SLB) Ahead of 2Q Report; Reiterates Outperform

Simmons maintained an Overweight rating on Schlumberger (NYSE: SLB), and cut the price target to $84.00 (from $86.00), ahead of the company's 2Q earnings report. The company is scheduled to release results on July 21st.

Analyst Bill Herbert commented, "Our current 2018 estimate of $3.64 is reflective of the $60/bbl price deck. However, our revised price deck yields a 2018E upside EPS range of $4.80-4.90/share. The current estimate yields a target price of $84/sh, while the upside earnings range calculates to a fair value range of $90-100/sh."

For an analyst ratings summary and ratings history on Schlumberger click here. For more ratings news on Schlumberger click here.

Shares of Schlumberger closed at $77.50 yesterday.

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