CGG : Recovery confirmed over the quarter
>Neutral rating (TP € 0.85) unchanged - We are maintaining our Neutral recommendation on the stock and leaving our target price unchanged at € 0.85. The release was in line with our expectations and should bring little change to consensus estimates. With a YTD performance -19.7%, the stock has outperformed its main peer PGS (YTD perf -33.7%). Compared to other oil services market segments, CGG has underperformed (our European sample stands at -7% YTD). Upside remains ...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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