NEW YORK (TheStreet) -- Schlumberger (SLB - Get Report) shares are advancing 0.89% to $75.63 on Monday morning after Goldman Sachs issued a bullish note earlier today, saying the company is a secular winner with numerous advantages.
The firm added the oilfield services company to its "Conviction Buy" list with a price target of $94, a 29% upside.
Analysts believe Schlumberger is best positioned in the current oil market, given its exposure to regions forecasted to be incremental sources of oil supply, its technological advantage and its balance sheet.
In addition, when oil prices go up, the company usually outperforms the S&P 500. Given these catalysts, analysts have increased confidence in its future.
Separately, TheStreet Ratings currently has a "Hold" rating on the stock with a letter grade of C.
Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and premium valuation.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: SLB