UPDATE: Global Hunter Securities Upgrades OYO Geospace to Buy, Raises PT to $105

Global Hunter Securities upgrades OYO Geospace, Inc. (NASDAQ: OYOG) to Buy from Neutral and raises its price target to $105 from $80 per share in anticipation of several GSR orders from both new and existing customers. According to GHS, “We are revising our price target to $105, up from $80, applying a 17.5x multiple to our revised F2012 EPS estimate of $6.00, up from $5.50. As always, long-term visibility is non-existent given OYOG's book and ship business, but we believe the near-term outlook for GSR orders, borehole demand, and the potential shallow water data acquisition booking will allow OYOG to post record earnings in F2012, which should have favorable implications for its share price.” Business strengths, according to GHS, is indicated by strong employment, build in inventories and customer backlogs, among others. OYOG closed at $82.30 on Friday.