CGG : Buoyed by sector momentum
>Neutral recommendation reiterated and target price unchanged at € 0.95 - Post publication we reiterate our Neutral recommendation on the stock (target price € 0.95). The diversification strategy implemented by the group (Beyond the core business) should ultimately allow it to reduce its cyclicality. However, it will require efforts on the industrial investment front, in a context of rising oil prices and a rekindling of client attraction to the seismic segment, which...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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