CMG and Baker Hughes Partner to Enhance Digital Integration in Energy Sector

An update from Computer Modelling ( (TSE:CMG) ) is now available.

Computer Modelling Group Ltd. (CMG) has announced a strategic agreement with Baker Hughes to enhance the integration of their simulation and seismic technologies with Baker Hughes’ digital offerings. This collaboration aims to deliver comprehensive software and consulting solutions for upstream energy development, optimizing asset value through improved workflows. The partnership will expand market reach and enable both companies to offer end-to-end workflows, enhancing user experience and ease of use. This initiative is expected to strengthen CMG’s industry positioning by leveraging collective expertise to provide superior consulting services in subsurface and surface oil and gas, geothermal, and CCUS systems.

The most recent analyst rating on (TSE:CMG) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on Computer Modelling stock, see the TSE:CMG Stock Forecast page.

Spark’s Take on TSE:CMG Stock

According to Spark, TipRanks’ AI Analyst, TSE:CMG is a Outperform.

Computer Modelling Group demonstrates strong financial performance, particularly with impressive revenue growth and profitability. The technical analysis shows positive momentum, although the stock may be overbought. The valuation is reasonable with a supportive dividend yield. The strategic acquisition enhances growth prospects, contributing positively to the overall score.

To see Spark’s full report on TSE:CMG stock, click here.

More about Computer Modelling

CMG (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. Headquartered in Calgary, AB, CMG operates offices in major cities including Houston, Oxford, Dubai, and others.

Average Trading Volume: 170,785

Technical Sentiment Signal: Sell

Current Market Cap: C$553.8M

For a thorough assessment of CMG stock, go to TipRanks’ Stock Analysis page.