Schlumberger (SLB) upgrade - July 28

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Schlumberger (SLB) upgrade - July 28

Post by dan_s »

Schlumberger (NYSE: SLB) was upgraded to Buy from Neutral by Citigroup with a $26 price target (up from $20). The bank noted a “greater than anticipated benefit from restructuring.”

HAL and SLB survive and increase market share during oil price cycles. Lots of small oilfield services companies won't survive. Demand for their services in the U.S. aren't expected to pick up until mid-2021.
Dan Steffens
Energy Prospectus Group
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