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CGG May Struggle to Meet Profit Forecast, Exane Says; Rating Cut 2014-01-07 08:00:09.13 GMT
By James Ludden Jan. 7 (Bloomberg) -- CGG may miss profit forecasts at all divisions even after warnings last year, Exane says in note. * Cuts rating to neutral, PT to EU13 from EU17.5 * Cuts ests.; sees 2016 Ebit of $585m, below CGG view * Synergy plans from geoscience businesses remain unclear * NOTE: CGG trading on 12.7x next year’s earnings vs 9.7x for Stoxx 600 Oil & Gas index: Bloomberg data
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To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net