Schlumberger (NYSE:SLB) Positioned Strongly on Product Lines, Global Presence

Commenting on Schlumberger (NYSE:SLB) today, Jefferies (NYSE:JEF) said they're still positive on the company, citing the strength of their superior product lines and international presence.

Consequently, Jefferies believes Schlumberger will perform strong domestically and globally. Latin America and Asia were specifically noted as growth regions for Schlumberger.

Jefferies raised their full year 2011 and full year 2012 EPS estimates from $3.51 and $4.65 to $3.75 and $4.80.

They reiterate their "Buy" rating on Schlumberger (SLB), which was trading at $84.29, up $0.81, or 0.97 percent, as of 1:33 PM EST. Jefferies raised their price target on SLB from $94 to $96.