KLR Group Raises Price Target on Noble Energy (NBL) to $67; Reiterates Buy

November 18, 2016 2:54 PM EST
Get Alerts NBL Hot Sheet
Price: $40.21 -0.15%

Rating Summary:
    27 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KLR Group reiterated a Buy rating on Noble Energy (NYSE: NBL), and raised the price target to $67.00 (from $55.00), following the integration of Noble's long term growth outlook.

Analyst Gail Nicholson commented, "We are raising our target price $12 to $67 per share following the integration of Noble's long term growth outlook into our model, which resulted in an 10% improvement in capital productivity, a ~10% increase in our US onshore asset capital allocation assumption, and higher liquids composition (liquids account for ~47% of volumes in '17 vs. our previous estimate of ~45%)."

For an analyst ratings summary and ratings history on Noble Energy click here. For more ratings news on Noble Energy click here.

Shares of Noble Energy closed at $35.34 yesterday.

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