Jesup & Lamont Initiates Noble Corp. (NE) with a Buy
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Jesup & Lamont initiates coverage on Noble Corp. (NYSE: NE) with a Buy rating and a $118.50 price target.
The firm said, "The company reported record earnings in 2007 and we fully expect a repeat performance for at least the next 2-3 years. A strong balance sheet, low debt for the
industry, strong management, a dividend, stock buyback program, and new construction to add to the fleet should all be considerations regarding the second largest offshore driller in the world."
Noble Corporation is a leading provider of diversified services for the oil and gas industry.
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