NEW YORK (TheStreet) -- Shares of Schlumberger Ltd. (SLB) are higher by 0.57% to $85.71 in early market trading on Wednesday, after the oilfield services company had coverage initiated with an "outperform" rating by analysts at Oppenheimer this morning.
Analysts at the firm set its 12 month price target at $114, and noted that the recent pullback in shares has created a buying opportunity.
The firm added that it believes the Houston, TX-based Schlumberger is a market leader.
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Separately, TheStreet Ratings team rates SCHLUMBERGER LTD as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SCHLUMBERGER LTD (SLB) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins."