Jefferies: Key Takeaways From SLB Analyst Event

Jefferies is providing some key takeaways from the Schlumberger SLB analyst event. “Key takeaways for SLB's analyst event over the last two days, including company's expectations to post industry leading margins (including in NAM), higher synergies from the Smith deal and a focus on quality and execution,” Jefferies writes. Jefferies is reiterating its Buy rating. “SLB management set forth a goal to continue to lead in international margins and become the leader in North America,” Jefferies adds. “While SLB's restructuring efforts in NAM certainly have helped, we believe SLB would need a rebound in the Gulf of Mexico, some improvement in Mexico and a more balanced supply/demand situation in U.S. pressure pumping if it is to pass HAL's margins.” Schlumberger closed Wednesday at $92.90.