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Fly News Breaks for December 6, 2018
SLB
Dec 6, 2018 | 08:03 EDT
Jefferies analyst Brad Handler lowered his price target for Schlumberger to $54 saying the company's Q4 comments "surprised with the relative severity of the pumping drop and raise concerns about non-NAM revenue growth in 2019." The analyst believes concerns about pumping competitiveness and global oil-skittishness" weighing on upstream spending will challenge what earnings multiples are warranted. The analyst, however, keeps a Buy rating on Schlumberger.
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