HSBC upgraded its rating of Schlumberger (NYSE:SLB) to Buy with a price target of $44.20, changing its price target from $40.60 to $44.20.
Shares of Schlumberger are trading up 1.01% over the last 24 hours, at $39.94 per share.
A move to $44.20 would account for a 10.67% increase from the current share price.
About Schlumberger
Schlumberger is the world's largest supplier of products and services to the oil and gas industry. The company operates its business via multiple groups: reservoir characterization, drilling, production, and Cameron. It is investing more than any other services firm to make its offerings more bundled, which it believes is likely to be one of the key industry trends during the next 10 years. Efforts on this front are most visible via the Schlumberger Production Management business, which now accounts for 10% of its revenue.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
