- (PLX AI) - PGS jumped 6% after a double upgrade at Kepler Cheuvreux, while TGS fell as the broker cut its recommendation.
- • PGS was raised to buy from reduce, with price target raised to NOK 8.60 from NOK 4.50
- • PGS has good opportunities to control its pricing and a fleet located in key regions such as the North Sea, Kepler said
- • Refinancing is the biggest uncertainty, but the company should see a strong increase in revenues through 2023: Kepler
- • Meanwhile, rival TGS fell 2.6% after Kepler resumed coverage with a cut to reduce from buy
- • Price target cut to NOK 70 from NOK 160
- • TGS is suffering the most from the seismic industry's structural change, and will have difficulty making money from its existing library, Kepler said