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Upgrade Alert for Schlumberger (SLB)

By Amy Schwartz

Schlumberger (NYSE:SLB) was upgraded from Hold to Buy at Societe Generale today. The stock closed yesterday at $79.81 on volume of 5.7 million shares, below average daily volume of 8.5 million.

Potential upside of 14.7% exists for Schlumberger, based on a current level of $79.81 and analysts' average consensus price target of $91.57. Schlumberger shares have support at the 50-day moving average (MA) of $75.25 and additional support at the 200-day MA of $74.48.

Schlumberger share prices have moved between a 52-week high of $94.41 and a 52-week low of $59.60 and closed yesterday at 34% above that low price at $79.81 per share. The 200-day and 50-day moving averages have moved 0.19% lower and 0.43% higher over the past week, respectively.

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.

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