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UPDATE: Dahlman Rose Initiates Geospace Technologies at Buy on Secular Strength

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Dahlman Rose initiated coverage on Geospace Technologies (NASDAQ: GEOS) with a Buy rating and a $85 price target.

Dahlman Rose commented, "We are initiating coverage of GEOS with a Buy rating and an $85 price target. Given GEOS' first-mover advantage, consistent success, and leading market share of wireless channels, we are applying a 17x P/E multiple on our 2013 calendar earnings estimate. We forecast EBITDA and EPS of $69 million and $3.16 in FY2012 and $107MM and $5.00 in FY2013."

Geospace Technologies closed at $74.72 on Monday.

Posted-In: Dahlman RoseAnalyst Color Initiation Intraday Update Analyst Ratings

 

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