Schlumberger (SLB) Numbers Rasied at Jefferies Post Q2
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Price: $47.95 -0.29%
Rating Summary:
48 Buy, 8 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
Rating Summary:
48 Buy, 8 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 18 | Down: 12 | New: 24
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Jefferies boosted estimates and its price target on Buy-rated Schlumberger (NYSE: SLB) from $86 to $97 following Q2 results.
Analyst Brad Handler weighs in: "SLB impresses with its consistency. We raise our PT to $97 from $86, effectively raising our target multiple (although our PT remains DCF-based) to reflect confidence in the medium term growth outlook. We accept that management is signaling a somewhat more aggressive approach to returning cash and expect share buybacks to be a more relevant part of the conversation over the next two years."
The firm raised Q3 EPS from $1.16 to $1.23 and FY 2013 EPS $4.60 to $4.65.
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 $78.48 yesterday.
Analyst Brad Handler weighs in: "SLB impresses with its consistency. We raise our PT to $97 from $86, effectively raising our target multiple (although our PT remains DCF-based) to reflect confidence in the medium term growth outlook. We accept that management is signaling a somewhat more aggressive approach to returning cash and expect share buybacks to be a more relevant part of the conversation over the next two years."
The firm raised Q3 EPS from $1.16 to $1.23 and FY 2013 EPS $4.60 to $4.65.
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 $78.48 yesterday.
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