Spectrum (No_rec, TP: NOK) - Discontinuing coverage
We have discontinued coverage of Spectrum, owing to its merger with TGS-Nopec. Our last published recommendation, target price and estimates should no longer be relied upon.Spectrum ASA is a Norway-based company, which provides seismic data and seismic imaging services to the global oil and gas industry. It operates within two divisions, namely Multi-Client services and Seismic Imaging. The Company's library of Multi-Client data specializes in regional coverage and includes projects from oil producing regions of the world. The Seismic Imaging offers data processing services, such as time imaging, velocity analysis, depth imaging and model building, among others. The Company is organized into four regions: North and South America, North West Europe and Africa, Mediterranean and Middle East, and Asia Pacific.The Company wholly owned six subsidiaries, such as Spectrum Geo Ltd, Fugro, Carmot Seismic AS, Carmot Processing AS, Spectrum Geo Inc and Spectrum Geo Pte Ltd, among others, as well as had two dormant joint ventures.
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.
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