Goldman Sachs Upgrades Schlumberger (SLB) to Buy

Goldman Sachs upgraded Schlumberger (NYSE: SLB) from Neutral to Buy with a price target of $95.00 (from $88.00).

The firm said SLB is uniquely positioned to benefit disproportionately from three major trends: (1) a pick up of international margins and pricing given increasing activity both onshore and offshore (global floater rig count is already up 18% from 4Q11 levels, implying strong activity levels); (2) increases in Russian drilling activity, where SLB is particularly strong; and (3) an improvement in the global seismic market.

The firm raised FY12 EPS from $4.17 to $4.27, FY13 from $5.06 to $5.27 and FY14 from $6.21 to $6.49.

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 $68.25 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BMO Capital Resumes Global Net Lease (GNL), Upgrades to Outperform
• Freenet AG (FNTN:GR) (FRTAF) PT Lowered to EUR29 at Deutsche Bank
• SMA Solar Technology AG (S92:GR) PT Raised to EUR77 at Deutsche Bank