Morgan Stanley Upgrades Schlumberger (SLB) to Overweight

(Updated - September 10, 2019 5:02 AM EDT)

Morgan Stanley analyst Connor Lynagh upgraded Schlumberger (NYSE: SLB) from Equalweight to Overweight with a price target of $51.00.

The analyst offers three factors to defend the improved outlook:

• Enhanced focus on returns and FCF under new CEO,
• Global capex dynamics favoring int'l exposure and,
• Downside support via dividend.

Further, the analyst said the risk-reward for SLB is the most compelling it has been in years.

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 $36.23 yesterday.

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