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Fly News Breaks for August 3, 2018
IO
Aug 3, 2018 | 07:50 EDT
Oppenheimer analyst Colin Rusch maintained an Outperform rating on ION Geophysical, but lowered his price target to $26 based on 6.0x EV/EBITDA his 2019E EBITDA of $79. ION currently trades at about 50% below peer averages, but believes it should trade at a lower discount given improving market fundamentals, as well as its strong position and growth opportunities in seismic software and data processing.
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