Cowen Sees Possibility for Strong Demand Growth in Geospace's GSX, OBX, PRM Units, Sees 76% Upside from Current Share Price
In a report published Tuesday, Cowen analyst Peter Hatfield highlighted potential strong demand growth in Geospace's (NASDAQ: GEOS) GSX, OBX, and PRM segments.
Hatfield expects large sales in GSX segment over the next two quarters -- to the tune of somewhere around 50,000. Furthermore, the analyst sugested Geospace could be talking to customers for potential OBX awards, with wins which may range from $20-$50 million.
Cowen maintains an Outperform rating and $130 price target on shares of Geospace.
The stock appears to be trading higher Tuesday afternoon the heels of this Cowen report. With the stock up 0.7 percent to $73.76 at last check, Hatfield's price target represents potential upside of more than 76 percent.
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