Schlumberger: BofA still a buyer, maintains TP
(CercleFinance.com) - On Monday Bank of America renewed its buy recommendation and 43-dollar target price for Schlumberger shares, after participating in the "digital forum" hosted by the oilfield services group last week.
In a report, BofA said digital applications finally seem to be taking off in the oil and gas sector, a trend it believes is being amplified by the Covid-19 pandemic.
The broker said the meeting gave it a better understanding of Schlumberger's offerings in this area, i.e. regarding: (1) data collection, storage and analysis, (2) production optimisation and (3) sustainability.
For the record, the share closed down about 3% at almost 34 dollars yesterday.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a report, BofA said digital applications finally seem to be taking off in the oil and gas sector, a trend it believes is being amplified by the Covid-19 pandemic.
The broker said the meeting gave it a better understanding of Schlumberger's offerings in this area, i.e. regarding: (1) data collection, storage and analysis, (2) production optimisation and (3) sustainability.
For the record, the share closed down about 3% at almost 34 dollars yesterday.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.