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Upgrade Alert for Schlumberger (SLB)

By David Diaz

Schlumberger (NYSE:SLB) was upgraded from Buy to Conviction Buy at Goldman Sachs today. The stock closed yesterday at $75.01 on volume of 6.1 million shares, below average daily volume of 8.5 million.

Schlumberger (NYSE:SLB) has potential upside of 22.1% based on a current price of $75.01 and analysts' consensus price target of $91.57. Schlumberger shares should encounter resistance at the 50-day moving average (MA) of $75.25 and support at its 200-day MA of $74.48.

Schlumberger Limited is an oil services company. The Company, through its subsidiaries, provides a wide range of services, including technology, project management and information solutions to the international petroleum industry as well as advanced acquisition and data processing surveys.

In the past 52 weeks, shares of Schlumberger have traded between a low of $59.60 and a high of $94.41 and closed yesterday at $75.01, which is 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.4%.

SmarTrend is tracking the current trend status for Schlumberger and will alert subscribers who have SLB in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Schlumberger

Ticker(s): SLB