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Schlumberger Limited Message Board

  • wooderi2000 wooderi2000 Feb 6, 2012 8:18 PM Flag

    Smith Barney Info on SLB

    February 6, 2012
    Schlumberger (SLB.N)
    Research Tactical Idea
    We believe the share price will rise in absolute terms over the next 60 days.
    We expect increased international demand coupled with higher pricing on technology-intensive services to continue to
    drive strong performance and we expect additional positive commentary on international pricing at upcoming conferences
    and bus tours to act as a catalyst for the stock. SLB has the greatest international exposure of its peers and has guided
    the international rig count to come in 10% higher in 2012 vs. 2011, driven by higher intensity offshore activity. SLB is also
    significantly less exposed to US natural gas headwinds and has more opportunities to shift capacity to international
    markets.
    We estimate that there is about a 60% to 70% or "likely" probability for the scenario.
    Estimated probabilities are illustrative and assigned subjectively based on our assessment of the likelihood of the
    scenario.
    Stock Rating: Overweight
    Industry View: Attractive
    Morgan

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