UPDATE: H.C. Wainwright Starts ION Geophysical (IO) at Buy

July 22, 2020 6:12 AM EDT
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Price: $2.03 -5.14%

Rating Summary:
    5 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
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(Updated - July 22, 2020 6:33 AM EDT)

(updating comment)

H.C. Wainwright analyst Amit Dayal initiates coverage on ION Geophysical (NYSE: IO) with a Buy rating and a price target of $4.00.

The analyst comments "ION offers a suite of products and services primarily catering to the oil and gas exploration and production (E&P) market currently, but is actively diversifying into adjacent markets such as ports and harbors. Within the E&P segment (72% of revenues) the company provides advanced data processing, imaging solutions, and advisory services designed to help E&P companies evaluate reservoirs and reduce exploration and production risks. ION’s global library consists of over 714,000 km of 2D and over 350,000 sq. km of 3D multi-client seismic data covering all major global offshore petroleum provinces. Within its Operations Optimization segment (28% of revenues) the company provides offshore operational control related subscription offerings and engineering services."

For an analyst ratings summary and ratings history on ION Geophysical click here. For more ratings news on ION Geophysical click here.

Shares of ION Geophysical closed at $2.67 yesterday.

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