CGG: Portzamparc upgrades stock
(CercleFinance.com) - Portzamparc has upgraded its rating on the CGG stock from "hold" to "buy," with a price target of 2.
6 euros, underlining a "reassuring" guidance and a balance sheet that has "now cleaned up" in the geoscience group's latest results publication.
In our opinion, the good news is the confirmation of 2018 and 2019 earnings estimates, which were mentioned when the group unveiled its financial restructuring in mid-2017. Indeed, its 2018 guidance is more ambitious than both our expectations and the consensus, says the analyst who monitors the stock.
According to the broker, the seismic market is still somewhat on standby, although the share's sharp drop and reassuring guidance offer an attractive risk/reward ratio. It continues, saying that the second half of 2018 could be more dynamic than the first half.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
6 euros, underlining a "reassuring" guidance and a balance sheet that has "now cleaned up" in the geoscience group's latest results publication.
In our opinion, the good news is the confirmation of 2018 and 2019 earnings estimates, which were mentioned when the group unveiled its financial restructuring in mid-2017. Indeed, its 2018 guidance is more ambitious than both our expectations and the consensus, says the analyst who monitors the stock.
According to the broker, the seismic market is still somewhat on standby, although the share's sharp drop and reassuring guidance offer an attractive risk/reward ratio. It continues, saying that the second half of 2018 could be more dynamic than the first half.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.