Jefferies Downgrades Noble Corporation (NE) to Hold Following Weak Q4

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Jefferies downgraded Noble Corporation (NYSE: NE) from Buy to Hold with a price target of $41.00 (from $44.00).

The firm comments, "We downgrade NE to Hold from Buy as we lower our PT to $41 from $44 and 2013/2014E EPS to $3.05/$4.25 from $3.80/$4.90. NE's disappointments on opex and capex guidance don’t completely overwhelm the excitement we have for its long term earnings growth potential, but given share appreciation and near term risks (still), we prefer to be on the sidelines with this stock.

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 $37.46 yesterday, with a 52 week range of $28.73-$41.71.

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