UBS Maintains a 'Buy' on Noble Energy (NBL); Preview of Analyst Meeting
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Price: $8.46 --0%
Rating Summary:
23 Buy, 18 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 18 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Buy' on Noble Energy (NYSE: NBL) price target raised $2 to $113.
UBS analyst says, "NBL will host an analyst meeting in Houston on November 15th - We expect the meeting to highlight: 1) improved ’10-’15 absolute & debt adjusted growth outlook; 2) production & cash flow impact from its large queue of major project start-ups; 3) increased resource inventory given recent discoveries, de-risking of Niobrara & Marcellus acquisition; 4) impact of Israel/Cyprus politics on Leviathan monetization & Tamar gas pricing; & 5) an active exploration program."
"We expect NBL to provide 2012 production growth guidance of ~17%, in line with consensus of 257 MBoed and our forecast. We also expect NBL to raise its long term 5 year production CAGR to ~13% from 10% due to incremental growth from the Niobrara and Marcellus Shale plays. However, due to increasing capex (UBSe $3.5 billion in 2012 and $4bn/annum long term) related to the Marcellus JV & oil service inflation, we don’t expect NBL to be FCF positive until '15."
For an analyst ratings summary and ratings history on Noble Energy click here. For more ratings news on Noble Energy click here.
Shares of Noble Energy closed at $93.30 yesterday.
UBS analyst says, "NBL will host an analyst meeting in Houston on November 15th - We expect the meeting to highlight: 1) improved ’10-’15 absolute & debt adjusted growth outlook; 2) production & cash flow impact from its large queue of major project start-ups; 3) increased resource inventory given recent discoveries, de-risking of Niobrara & Marcellus acquisition; 4) impact of Israel/Cyprus politics on Leviathan monetization & Tamar gas pricing; & 5) an active exploration program."
"We expect NBL to provide 2012 production growth guidance of ~17%, in line with consensus of 257 MBoed and our forecast. We also expect NBL to raise its long term 5 year production CAGR to ~13% from 10% due to incremental growth from the Niobrara and Marcellus Shale plays. However, due to increasing capex (UBSe $3.5 billion in 2012 and $4bn/annum long term) related to the Marcellus JV & oil service inflation, we don’t expect NBL to be FCF positive until '15."
For an analyst ratings summary and ratings history on Noble Energy click here. For more ratings news on Noble Energy click here.
Shares of Noble Energy closed at $93.30 yesterday.
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