Report
Baptiste Lebacq

PGS : Fundamentals are improving

>Underperform recommendation, target price of NOK6 - Following the link-up with TGS, PGS shareholders will receive 0.06829 TGS shares for each PGS share held. We think this transaction makes sense for PGS shareholders, but we believe that it is more difficult to justify for shareholders of TGS shareholder whose business model of an asset-light group has proven its resilience over the past cycles. Following the Q1 2024 results publication and conference call, we maint...
Underlying
PGS ASA

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.

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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