Standpoint Research Upgrades Noble Corporation (NE) to Buy

March 3, 2014 12:41 PM EST Send to a Friend
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Price: $15.97 -1.54%

Rating Summary:
    18 Buy, 18 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 19 | New: 16
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Standpoint Research upgraded Noble Corporation (NYSE: NE) from Hold to Buy with a price target of $38. Analyst Ronnie Moas said the sell-off has created a buying opportunity and is positive on the 4.8% dividend yield.

"The drillers have been hit hard recently and that has created some opportunities," Moas said. "NE is a name I exited two years ago @ $41 and it has underperformed the S&P by > 5000 bps (and underperformed the XLE by 4000 bps) since then. This is a name you could have gone into at $30 and exited at $40 six times in the last ten years."

The dividend was recently hiked and the yield is now 4.8%.

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

Shares of Noble Corporation closed at $31.05 yesterday.

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