Petroleum Geo-Services (Sell, TP: NOK13.00) - Will this time be different?
We are in line with consensus on 2018e cost- and capex-related items, on which we expect guidance at the CMD (scheduled on 1 February with the Q4 results due on the same day at 07:00 CET). PGS has a history of upbeat market comments that have proven to be too optimistic, and we expect a similar tone at the CMD. SELL maintained, NAV-based target price raised to 13 (11).Petroleum Geo-Services is engaged in providing geophysical services and oil and gas production services. As of Dec. 31, 2001, Co. operated six Ramform design vessels in its marine seismic data acquisition operations.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.