In continuation of my stock picks for 2012, today we will look at Schlumberger (SLB). While I chose competitor Haliburton (HAL) for my 4 stocks to buy in 2012, the truth is that I was torn between the two.
I have had Schlumberger as part of my stocks to buy for the year for the last 3 years, and it somewhat pained me to go another way; however, I still believe both companies have a lot to gain in this coming year by the need for their oil services. It also helps that they are both a best of breed in this sector.
Most of the reasons I like Schlumberger are the same for why I like Haliburton, so I won’t go on and repeat that blurb.
From a technical aspect, my price target for Schlumberger is $95.
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