Seaport Global Securities Downgrades Noble Corporation (NE) to Neutral
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Seaport Global Securities downgraded Noble Corporation (NYSE: NE) from Accumulate to Neutral and maintains a $6 price target.
Analyst Mark Brown commented, "We maintain our price target of $6.00 on NE based on a 9.5x multiple on our 2018 EBITDA estimate. The stock price has increased recently to $6.29 as of yesterday’s close and is now slightly above our unchanged price target, hence we reduce our rating to Neutral (from Accumulate) to reflect that we now consider the shares fairly valued. Our EBITDA estimates are 2% below consensus in 2017 and 15% above consensus in 2018."
Shares of Noble Corporation closed at $6.29 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Roth Capital Downgrades Ideal Power (IPWR) to Neutral
- UPDATE: SunTrust Robinson Humphrey Starts Woodward (WWD) at Hold
- UPDATE: SunTrust Starts Triumph Group (TGI) at Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!