Report
Baptiste Lebacq

CGG : Vers un FCF 2023 l’équilibre post effet BFR (vs avant effet BFR avant)

>Opinion Neutre inchangée - Post publication, nous maintenons notre séquence de résultats et réitérons notre recommandation Neutre sur le titre (OC 0.95 €). La stratégie de diversification mise en place par le groupe (Beyond the core business) commence à monter en puissance et devrait lui permettre à terme de réduire sa cyclicité. Dans notre échantillon de couverture, nous avons des titres avec des upside plus importants (Vallourec et Schoeller Bleckmann +80%) d’où c...
Underlying
CGG
CGG

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Baptiste Lebacq

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