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ION Geophysical Corporation
IO delivered strong 3Q results owing to excellent multi-client results, while partially offset by continued weakness in its land equipment business (INOVA JV), and weak GOM activity, Jefferies & Company reports.
“We expect shares to react well to 3Q earnings and positive comments about 4Q multi-client activity,” Jefferies & Company writes, noting that it maintains its Hold rating. “IO expects data library sales to return to a more normal seasonal pattern in 4Q, which is typically strong.”
ION Geophysical Corporation currently trades at $5.11.
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Posted In: Analyst RatingsEnergyION Geophysical CorporationJefferies & CompanyOil & Gas Equipment & Services
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