Barclays Names Schlumberger (SLB) A 'Must Own' Stock

Barclays maintains an 'Overweight' on Schlumberger (NYSE: SLB) price target of $103.00.

Analyst, James C. West, said, "We continue to believe Schlumberger will be a primary beneficiary of the multi-year upturn in deepwater, exploration and international spending that is in the early stages. As the near-term macro issues subside, the equity market should once again focus on tight spare capacity in the oil markets and we believe there is considerable upside potential in the shares of SLB as this unfolds."

West maintains FY12/13 EPS estimate of $4.45/5.75, citing weaker North American operations offset by stronger international.

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 $71.70 yesterday.

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