TGS Nopec (Sell, TP: NOK180.00) - Too much excitement
TGS Nopec reported a strong Q1, and on the back of the results we have raised our 2018e EPS by 20%, representing USD0.19/share (NOK1.5). In our view, the consensus earnings revisions are already reflected in the share price and we believe that the company will continue to undeform the market as it has in the past year, owning to too-high expectations and downside potential to the fair valuation. We maintain SELL, but have raised our target price to NOK180 (155).TGS Nopec Geophysical provides geoscience data to oil and gas exploration and production companies worldwide. In addition to global geophysical and geological data libraries that include seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, Co. also provides advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.
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.