Barclays analyst J. David Anderson upgraded Schlumberger to Overweight from Equal and raised his price target for the shares to $50 from $45. New CEO Olivier Le Peuch "hit all the right notes" as he repositions the company to succeed in a lower growth environment, Anderson tells investors in a research note. The analyst believes Le Peuch addressed the Street's biggest concerns while also providing "bold, yet achievable" financial targets. Anderson thinks long-only investors will start to pay attention after gaining confidence in the new direction of Schlumberger. The company is now best positioned among the Big 3, says the analyst.