Barclays Maintains an 'Overweight' on Noble Corp (NE); Adjusting Estimates for Downtime and Extensions
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Price: $45.10 +1.83%
Rating Summary:
16 Buy, 22 Hold, 8 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 22 Hold, 8 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Noble (NYSE: NE) price target of $48.00.
Barclays analyst says, "Near-term Downtime Offset by Favorable Outlook: Noble recently announced an up-tick in near-term downtime for its floater fleet and a number of favorable extensions and contracts for jackups and floaters. We also expect an announcement of a new contract for the Noble Jim Day (12,000' 6th Gen) in the coming weeks."
"We are adjusting our 4Q11 EPS estimate to $0.55 (from $0.68) due to the 90+ days of downtime recently announced. We are bumping our 2012 and 2013 EPS estimates by $0.10 each to $4.35 and $4.75, respectively, reflecting the Pemex jackup extensions and other new awards."
For an analyst ratings summary and ratings history on Noble click here. For more ratings news on Noble click here.
Shares of Noble Energy closed at $95.53 yesterday.
Barclays analyst says, "Near-term Downtime Offset by Favorable Outlook: Noble recently announced an up-tick in near-term downtime for its floater fleet and a number of favorable extensions and contracts for jackups and floaters. We also expect an announcement of a new contract for the Noble Jim Day (12,000' 6th Gen) in the coming weeks."
"We are adjusting our 4Q11 EPS estimate to $0.55 (from $0.68) due to the 90+ days of downtime recently announced. We are bumping our 2012 and 2013 EPS estimates by $0.10 each to $4.35 and $4.75, respectively, reflecting the Pemex jackup extensions and other new awards."
For an analyst ratings summary and ratings history on Noble click here. For more ratings news on Noble click here.
Shares of Noble Energy closed at $95.53 yesterday.
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