Kepler Cheuvreux ups Viridien, shares rally

Viridien SA

19/03/2025 08:53

** Shares in Viridien VIRI.PA jump around 9% to 1-1/2-yr highs after Kepler Cheuvreux upgraded its rating on the geophysical services company to "buy" from "hold", citing extended debt maturity and higher profit outlook

** Early 2025 marked a "turning point in Viridien's story," Kepler says, notably with bonds refinancing extending the group's debt maturity to October 2030

** "The termination of the contract with Shearwater is a game changer; VIRI is now truly asset light and can be very flexible," Kepler says, anticipating a $54 mln positive impact on EBITDA

** The Geoscience segment remains Viridien's "jewel", the broker says, pointing to higher margins than anticipated and record backlog

** Among eight analysts covering the stock, five rate it "buy" or "strong buy", two rate it "hold" and one "sell"

 (Reporting by Alban Kacher)

 ((alban.kacher@thomsonreuters.com ; +48 58 769 65 87))