Schlumberger:
BULLISH ON Q4 GUIDANCE
** RBC (rating: "outperform," PT: $70) notes that North
American frac momentum continues and the company is well set to
benefit from backlog of completion activity into 2018
** Evercore (rating: "overweight") says SLB remains
positioned at the forefront of the digital oilfield and is
looking for CEO's comments on extent of production declines
outside of the highly-visible North American market
** Jefferies (ratings: "buy," PT: $80) expects the vast
majority of pre-downturn capacity to be reactivated, driving
moderating growth in pricing through at least early 2018 for
U.S. pressure pumping
** JPMorgan (rating: "overweight,") says NAM top line was
strong, as expected, adds production margin progression was a
"disappointment", and an offset in Cameron is likely viewed as a
negative mix, but confident SLB can deliver solid improvement as
transitory costs recede
** JPM sees results neutral for the shares; Forward guidance
on Q4 2017, outlook for 2018 and details on SPM should drive the
shares today