CGG : Ambitious diversification strategy
>Neutral recommendation and target price of € 0.85 - We are sticking with our Neutral recommendation on the stock (target price of € 0.85). The rise in oil prices should initially benefit short-cycle projects and development capex. Secondly, a recovery in exploration spending seems increasingly likely. The diversification strategy put in place by the group should enable it to reduce its cyclicality in the long term, however it will require efforts in industrial i...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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