UPDATE: BWS Initiates Oyo Geospace at Strong Buy
BWS is out with its report today on Oyo Geospace (NASDAQ: OYOG), initiating OYOG at Strong Buy with a $150 PT.
In a note to clients, BWS writes, "Oyo Geospace has a steady business in selling different kinds of solutions to the energy industry to help collect data and assess the scope of the field. The Company experiences an increase in business when oil rises in price, as it has been doing this year. The state of where oil prices are is not the primary reason for initiating coverage of OYOG and placing our highest rating on the shares. OYOG has developed a wireless seismic system that has started to garner the attention of the industry."
At the time of posting, shares of OYOG were trading at $85.92, down 1.84% from Thursday's close.
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