CGG : A recovery, a new model on a medium-term view – Buy recommendation (vs Neutral) – target price € 2.60 (vs € 1.60)
>Recap on the new development strategy - The new strategy presented by the new management team aims to roll out an asset light model. The aim is to divest itself of the acquisition of marine and terrestrial data and therefore of the associated fleet (the transaction concerns five upmarket vessels and two older vessels). In exchange, the group will strengthen its presence in the geoscience (processing - imaging), multi-client and equipment (with Sercel) businesses. The...CGG is a global participant in the geophysical seismic industry. Co. manufactures geophysical equipment and provides marine, land, and airborne data acquisition services. Co. also provides geosciences services, including data imaging, seismic data characterization, geosciences and petroleum engineering consulting services, and collecting, developing and licensing geological data. Co.'s clients are in oil and gas exploration and production industies. Co. divides its activities into four segments: Equipment, Contractual Data Acquisition, Geology, Geophysics and Reservoir (GGR), and Non-Operated Resources, including eight business lines, six Corporate functions, and four Group Departments.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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