uploads///Broker Recommendations

Wall Street’s Forecasts for Schlumberger before Its 3Q16 Report

Alex Chamberlin - Author

Oct. 13 2016, Updated 8:04 a.m. ET

Analyst recommendations for Schlumberger

Approximately 78% of analysts tracking Schlumberger (SLB) have issued a “buy” recommendation or some equivalent. Approximately 17% have issued a “hold” or some equivalent, and the rest have rated SLB as a “sell.” Notably, SLB makes up 1.2% of the iShares S&P 500 Value ETF (IVE).

By comparison, approximately 64% of analysts tracking Helix Energy Solutions (HLX) issued a “buy” recommendation or some equivalent, while approximately 36% of analysts tracking HLX have recommended a “hold.”

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Price targets for Schlumberger

RBC Capital Markets, the investment banking subsidiary of the Royal Bank of Canada, has most recently given SLB a target price of $95. SLB currently trades near $82, so RBC’s target price implies a ~15% return over the next 12 months. Barclays (BCS), a global investment bank, has given a target price of $94 for SLB, which implies a ~14% return over the next 12 months. Jefferies, an American investment bank, has given SLB a price target of $88, which implies a 7% return over the next 12 months.

While the highest target price for SLB is $110, the lowest is $77. The median target price surveyed among sell-side analysts for SLB is ~$93.5. SLB is currently trading near $82, which implies a ~14% upside at its median price.

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