Schlumberger (SLB) PT Raised at Jefferies on 'Impressive' Analyst Day

Jefferies analyst Brad Handler raised his price target on Buy-rated Schlumberger (NYSE: SLB) to $135.00 (from $119.00) following the company's "impressive" analyst day.

Handler said, "An impressive analyst event impressed us most with its incremental margin guidance, which we think speaks to the conviction regarding process improvement (as well as to new product and integration/SPM potential). We raise 2016+ EPS estimates, which along with greater assumed Normalized capex efficiency raises our PT to $135 from $119."

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 $113.85 yesterday.

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