Goldman Sachs Upgrades Noble Corporation (NE) to Buy, Citing Tight Market

Goldman Sachs upgraded Noble Corporation (NYSE: NE) from Neutral to Buy with a price target of $46 (up from $37).

Goldman notes that the market for jack-ups and floaters is extremely tight and they expect continued increases in dayrates for both floaters and jack-ups.

The firm said Noble and Ensco plc (NYSE: ESV) have significant repricing opportunities and new dayrate datapoints would be a catalyst.

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 $38.95 yesterday, with a 52 week range of $27.33-$46.72.

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