UBS upgraded SLB to Buy from Neutral with a price target of $66, up from $48. The firm sees a "positive" 2.3-to-1 risk-reward skew based on historical margin trends and the company’s digital unit driving growth. UBS adds that it sees limited downside risk to estimates as visible international growth is centered around Offshore and Gas developments, along with the company’s balance sheet and cost cutting initiatives.
Published first on TheFly
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