Canaccord Genuity Maintains a 'Hold' on Schlumberger; International Outlook Aids SLB
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Price: $49.11 --0%
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 7
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Canaccord Genuity maintains a 'Hold' on Schlumberger (NYSE: SLB) raises price target to $78.00.
Canaccord analyst, Scott Burk, said, "SLB's Q3 results were lower than consensus and Q4 consensus is “too optimistic," but growing international revenues and a positive outlook shielded SLB from the more significant downside US-focused peers encountered."
"We believe Schlumberger is one of the better oil service stocks to own in a
declining oil price environment due to diversity of revenue sources and strong
international presence. However, as the largest company, it is also the slowest to benefit from changes in different markets (like the pressure pumping gains in NAM during 2010). In a rising oil price environment or growing economic
environment, we would want to own the smaller names that have a chance to
take market share from SLB."
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.
Canaccord analyst, Scott Burk, said, "SLB's Q3 results were lower than consensus and Q4 consensus is “too optimistic," but growing international revenues and a positive outlook shielded SLB from the more significant downside US-focused peers encountered."
"We believe Schlumberger is one of the better oil service stocks to own in a
declining oil price environment due to diversity of revenue sources and strong
international presence. However, as the largest company, it is also the slowest to benefit from changes in different markets (like the pressure pumping gains in NAM during 2010). In a rising oil price environment or growing economic
environment, we would want to own the smaller names that have a chance to
take market share from SLB."
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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