PGS : 2020 will be challenging
>Reduce recommendation maintained, target price adjusted to NOK 3.2 - We maintain our Reduce recommendation on the stock, with a target price adjusted to NOK 3.2. Following the Q1 2020 results publication and the conference call, we have revised our EBITDA forecasts down by 21%. As a reminder, seismic investments are traditionally the first to be sacrificed in the context of a reduction in oil companies’ capex budget. Moreover, the sharp contraction in block auct...Petroleum Geo-Services is engaged in providing geophysical services and oil and gas production services. As of Dec. 31, 2001, Co. operated six Ramform design vessels in its marine seismic data acquisition operations.
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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