Barclays Maintains an 'Overweight' on ION Geophysical (IO); A New Exploration Cycle is Underway
Tweet
Share
E-mailGet Alerts IO Hot Sheet
Price: $0.35 --0%
Rating Summary:
4 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Barclays maintains an 'Overweight' on ION Geophysical (NYSE: IO) price target cut $1 to $11.00.
Barclays analyst says, "Well Positioned for Exploration Upturn: We believe that IO will continue to benefit from the resumption in exploration activity which is underway and expected to accelerate in 2012. Over time, the company's joint venture with BGP should create a significant supplier of land seismic data acquisition equipment and the legacy business should also benefit from BGP's push into the marine seismic market."
"We are reducing 2012 and 2013 EPS estimates to $0.50 (from $0.55) and $0.70 (from $0.75) primarily reflecting slightly lower revenue and margin expectations for the Systems and Solutions segments."
For more ratings news on ION Geophysical click here and for the rating history of ION Geophysical click here.
Shares of ION Geophysical closed at $7.14 yesterday.
Barclays analyst says, "Well Positioned for Exploration Upturn: We believe that IO will continue to benefit from the resumption in exploration activity which is underway and expected to accelerate in 2012. Over time, the company's joint venture with BGP should create a significant supplier of land seismic data acquisition equipment and the legacy business should also benefit from BGP's push into the marine seismic market."
"We are reducing 2012 and 2013 EPS estimates to $0.50 (from $0.55) and $0.70 (from $0.75) primarily reflecting slightly lower revenue and margin expectations for the Systems and Solutions segments."
For more ratings news on ION Geophysical click here and for the rating history of ION Geophysical click here.
Shares of ION Geophysical closed at $7.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Barclays Downgrades Renault SA (RNO:FP) (RNSDF) to Equalweight
- DA Davidson Reiterates Buy Rating on Box, Inc. (BOX) on Secular Tailwinds for Demand
- Ferrovial SA (FER:SM) (FRRVF) Reiterated at Buy by UBS on Winning Bid For Tennessee Project
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
