UBS Maintains a 'Buy' on Schlumberger (SLB); International Recovery Still on Track, U.S. Land Uncertain N-T

UBS maintains a 'Buy' on Schlumberger (NYSE: SLB) price target cut from $100 to $95.

UBS analyst says, "The company highlighted the continued strengthening in the international markets, as well as global deepwater activity. Additionally, SLB sited pricing improvements in wireline and drilling and measurement in the international markets. The question remains over the near-term North American pressure pumping, which we believe could experience some pricing/margin pressure in 2012 as new capacity continues to enter the market. However, SLB’s offers the highest exposure to the improving international and deepwater markets which well positions the company for 2012." (UBS lowers FY11 EPS estimate from $3.75 to $3.68 and FY12 from $5.35 to $4.75)

For more ratings news on Schlumberger click here and for the rating history of Schlumberger click here.

Shares of Schlumberger closed at $67.38 yesterday.

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