Citi analyst Scott Gruber lowered his price target for Schlumberger to $79 from $84 after the company yesterday guided Q2 earnings growth to 10%-15% growth or around 42c, compared to the consensus of 46c and his estimate of 45c. Sales should approach consensus, but profit margins will be weighed down by start-up costs and delays on integrated drilling contracts, and less activity in Russia, Gruber tells investors in a research note. The analyst keeps a Buy rating on the shares. He trimmed his Q3 earnings per share to 55c and believes the consensus forecast of 55c is achievable.