Deutsche has the sell on EQN with a price target of $5.01.
Morgan Stanley analysts have a good research note on the EQN takeover of CGG and how they believe it favours EQN in the long run. The analysts are surprised that the takeover has the support of the CGG board considering that they believe the offer is made at a time when the company valuation does not reflect the full potential of the asset in their opinion and with CGG being potentially acquired at a modest premium to their DCF valuation.
CGG Price at posting:
49.5¢ Sentiment: Hold Disclosure: Held
